BEZA Collaborates with Sumitomo and BRAC for Development Projects

Industry: Development
Company: BRAC, Sumitomo Corporation Group
Company Intelligence Tag: Partnership Insights

The Bangladesh Economic Zones Authority (BEZA) partners with local and international agencies to enhance the living standards of residents near a special economic zone in Araihazar upazila. A memorandum of understanding (MoU) was signed with Bangladesh Special Economic Zone (BSEZ) Limited, Sumitomo Corporation, and BRAC. The MoU aims to provide residents with training in manufacturing, construction, and other sectors through Technical, Vocational, Education and Training (TVET) framework. It also includes provisions for pre-primary and primary education, access to financial services via digital platforms, and amenities like skill development programs, healthcare, and day-care facilities for workers and locals. The BSEZ has initiated social programs under its Corporate Social Responsibility (CSR). The Japanese Economic Zone, established on 1,000 acres of land, aims to attract foreign investment, particularly from Japanese companies, with an anticipated investment of $1.0 billion.

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