Finance Minister Amir Khasru Mahmud Chowdhury said Bangladesh is now open to foreign investment as the China Economic and Industrial Zone formally began operations in Anwara, Chattogram, on Sunday. He described the inauguration as a milestone for the economies of Chattogram and the country.

The finance minister said investment in the zone could exceed $500 million and may reach $1 billion. He said the launch had fulfilled part of the prime minister’s stated $1 trillion investment target. Calling private investment necessary to meet the prime minister’s vision, he said existing laws had already been amended to make them more investment-friendly.

Chowdhury urged environmentally friendly factories and said housing should be provided for workers, alongside efforts to improve their welfare. Home Minister Salahuddin Ahmed Chowdhury stressed the need for stable law and order to expand investment and trade. BEZA and China Bridge signed an agreement after the event, followed by the formal opening through the unveiling of a plaque. BIDA Chairman Ashik Chowdhury said the prime minister had set a target to see the zone’s first factory operating within 18 months.