ADB, BIDA Consult with Stakeholders on the Northeast Bangladesh Economic Corridor
8 September 2019
The Asian Development Bank (ADB) and the Bangladesh Investment Development Authority (BIDA) held a consultation workshop on the Northeast Bangladesh Economic Corridor (NEBEC) development on 8 September 2019. The workshop was attended by more than 130 participants, which included government officials, development experts, researchers, and development partner representatives.
ADB is preparing a study on the potential of the planned corridor. The workshop helped gather stakeholders' feedback, which will inform the study. ADB aims to complete the study by March 2020.
The NEBEC will be located in the northeastern districts in the Dhaka, Sylhet, Chattogram, and Mymensingh divisions. News published by the UNB and Dhaka Tribune highlighted the advantages of developing Bangladesh's northeastern region, based on the presentation of Mr. Manmohan Parkash, Country Director for ADB Bangladesh resident mission. According to Mr. Parkash, NEBEC is a region endowed with rich resources, and is strategically located for cross-border trade with India's northeastern region, Bhutan, and Nepal.
The ongoing study will identify promising industries in the region and propose infrastructure and urban services needs for planned industrial development, offering solutions for inclusive and regionally balanced high economic growth.
Comprehensive economic corridor development approach supports the coordinated and holistic development of industries, infrastructure, and urban and rural areas.
In his presentation, Mr. Soon Chan Hong, Senior Economist, South Asia Department, ADB, underscored that economic corridor development has the potential to enhance Bangladesh’s role as land bridge between South Asia via India and Southeast Asia via Myanmar, and also improve transport gateways and connectivity within Bangladesh.
Mr. Hong noted that developing Bangladesh's economic corridors will not only increase intra-regional trade and investment, but also play a pivotal role in integrating economies across the region.
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