Chief Adviser Professor Muhammad Yunus has called for the expedited development of key infrastructure in the Matarbari region, aiming to transform the coastal area into Bangladesh’s premier manufacturing and export-orientated free trade zone.
During a high-level meeting on Monday at the State Guest House Jamuna in Dhaka, Prof Yunus reviewed the progress of the Moheshkhali-Matarbari Integrated Infrastructure Development Initiative (MIDI).
The session was chaired by Principal Secretary Md. Siraj Uddin Miah and attended by SDG Coordinator Lamiya Morshed, along with secretaries from the Road Transport, Shipping, Energy, Power and Local Government ministries.
Sarwar Alam, Director General of the MIDI Cell, presented a comprehensive review of ongoing MIDI projects.
Emphasising the strategic importance of the region, Prof Yunus stated, “We envision Matarbari as the nation’s largest hub for ports, logistics, manufacturing and energy. To realise this vision, we must attract substantial foreign investment.”
He highlighted the interest of international investors in these sectors and underscored the necessity of a master plan to facilitate such investments.
The Chief Adviser directed the Road Transport and Shipping secretaries to accelerate the construction of roads connecting the MIDI region to the rest of the country and to develop terminals capable of accommodating large ocean-going container vessels.
He also stressed the importance of urban development in the area, including building a planned city to support the anticipated influx of workers in the free trade zone and associated industries.
Prof Yunus announced that the development of the MIDI region would be a focal point during his upcoming two and a half days of official visit to Japan, commencing on May 28.
He is scheduled to attend the 30th Nikkei Future of Asia conference in Tokyo and hold bilateral talks with Japanese Prime Minister Shigeru Ishiba on May 30, aiming to secure funding for key projects.
The meeting also revealed Japan’s intention to establish its second exclusive Japanese economic zone within the MIDI region. Araihazar,
Narayanganj, is the site of the first Japanese Economic Zone. It has already attracted sizeable foreign investments.
Additionally, several international companies, including Saudi Arabian petrochemical giant Aramco, Abu Dhabi Ports, Saudi Arabian port operator Red Sea Gateway, Japanese power producer JERA and Malaysian petrochemical company Petronas, have expressed interest in investing in the area.
Dhaka has recently signed an agreement with Japanese firms Penta-Ocean Construction Co. Ltd. and TOA Corporation to construct the country’s first deep-sea port at Matarbari.
This project, supported by the Japan International Cooperation Agency (JICA), is a cornerstone of the MIDI initiative and is expected to enhance the region’s connectivity and economic potential.
The MIDI initiative represents a collaborative effort between Bangladesh and Japan to transform the Moheshkhali-Matarbari region into a strategic economic corridor, integrating logistics, energy and industrial development.