Written by The Banking Post
Bangladesh is moving to establish a specialized Defence Economic Zone aimed at manufacturing weapons, ammunition, and advanced defence technologies for both domestic use and export.
Officials said the government has started looking for suitable land for the project, which will cater to the country’s growing need for modern military equipment — including drones and cyber-technology-based systems.
The initiative, overseen by the Bangladesh Economic Zones Authority (BEZA), is expected to attract about US$1.5 billion in long-term investment. The zone may be developed through Public-Private Partnerships (PPP), joint ventures, or Foreign Direct Investment (FDI).
Chief Adviser Dr. Muhammad Yunus has already approved several key policy measures to encourage technology transfer and joint investment in the defence sector. The goal, officials said, is to modernize Bangladesh’s defence capabilities and reduce dependence on foreign suppliers.
The proposal for the specialized Defence Economic Zone was finalized in a September meeting chaired by BEZA Executive Chairman Chowdhury Ashik Mahmood Bin Harun, with senior military and civil officials in attendance.
