The government approved the establishment of an agro-processing economic zone in the Alaolpur union of Gosairhat upazila in Shariatpur, 55 km south of Dhaka. On October 26, 2023, 686 acres in Charjalalpur, Alaolpur, were declared an economic zone under the Bangladesh Economic Zones Act, 2010. It’s undecided whether land development will be done by Bangladesh Economic Zones Authority (Beza) or investors.
Beza has received approval for 97 economic zones, with 68 being government initiatives. The Shariatpur economic zone will utilize state-owned fallow land along the Meghna River. In the last 3.5 years, promises of $24 billion in investments were made for state-run economic zones, but actual investment stands at $1.6 billion, with only $80 million from foreign investors. Private economic zones drew $4.5 billion in investment proposals, with 80% already invested. Developers face challenges due to a lack of gas connections hindering prompt operations.