Comprehensive Development Plan for Bangladesh Economic Corridor Submitted to the Government
30 October 2017
The Asian Development Bank has submitted the Comprehensive Development Plan (CDP) for the proposed Southwest Bangladesh Economic Corridor (SWBEC) to the Government of Bangladesh. This strategic framework document will guide the efficient implementation of economic corridor projects, integrating industry, urban, infrastructure, and regulatory frameworks.
The development of an economic corridor is envisaged to bring huge economic gains for Bangladesh’s southwestern region and the entire country. SWBEC is expected to boost Bangladesh’s human capital, technological level, infrastructure, and backward linkages, enabling the country to diversify into higher value products, and deepen its linkages with global production networks.
Total output for the southwest region by 2050, with well-coordinated implementation of the proposed economic corridor, is estimated to reach $148 billion—3.3 times higher than the business-as-usual scenario. Employment in the region could increase to 35 million by 2050—three times the estimate under the business-as-usual scenario, and with the potential for around 25 million projected additional employment opportunities generated from corridor activities.
The CDP highlights the following:
- The main spine of the corridor will connect key urban and economic centers in the region, including industrial nodes that will house industries with high potential to accelerate industrialization;
- Robust infrastructure for transport connectivity, logistics, and power will be developed in the corridor region to attract centers of production and consumption, and facilitate greater access to markets;
- Urbanization strategy will be synchronized with infrastructure development, including physical and social infrastructure, to ensure workers’ quality of life; and
- A sound institutional and governance framework is necessary to facilitate effective policy coordination and project implementation, and create a regulatory environment that will promote the ease of doing business.
The study covers Phase 1 of the economic corridor project in Bangladesh, which runs from Jessore to Dhaka, with extensions to Benapole and Payra Port.
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