Kaliakair Hi-Tech Park draws $1.64b investment proposals: minister

He said the state-run facility on the outskirts of the capital drew investment proposals of US$ 629 million alone from seven companies based in China, Japan, India, South Korea and the United States.

Anam made the remarks while visiting the country's first hi-tech park in Kaliakair, here, today to assess the prospects and challenges of technology-based industrial development, domestic and foreign investment and employment generation scenario.

He said multinational companies from around the world, including Google, Meta (Facebook) and TikTok, also proposed investment for a planned AI data centre project by a US-based company.

“The Centre is currently under construction,” the minister said.

Officials said the minister’s inspection was part of reviewing progress in implementing the government's announced 180-day action plan.

Anam said initiatives were taken to accelerate investment in the Kaliakair Hi-Tech Park and make domestic products competitive in global market under BNP government’s "Made in Bangladesh" initiative.

“Simultaneously fiscal and non-fiscal incentives proposals are also being readied for investors,” he said.

The minister said the initiatives were taken in line with BNP’s 2026 election manifesto, which intended to implement the "National Green Industrial Policy" and long-term plans for an AI hub and software, app and hardware production, he said.

An official statement, meanwhile said 85 companies were so far allotted plots or space at the park, of which seven were foreign entities while 40 companies by now went on production or business activities, 28 were setting up their plants and another 17 are expected to start construction soon.

It said the government so far spent over Tk 500 crore on basic infrastructure development at the park, while the total investment already made by companies stands at around US$ 283 million, equivalent to about Tk 3,245 crore.

“If a proper business ecosystem is developed, the park could generate direct and indirect employment for around one lakh people,” Anam said during the inspection.

He said the foreign investment proposals could make the ICT Park not only a centre for domestic technology production but also a future hub for production, assembly, research and development and exports by foreign technology companies.

The statement said three mobile phone manufacturers, including Honor and Xiaomi, two laptop manufacturers, one ATM and cash recycler machine manufacturer, six fibre-optical cable manufacturers and three automobile manufacturers, including Hyundai, are currently operating at the park.

The park is also producing IoT devices, routers, switches, CCTV equipment, air conditioners, refrigerators, home appliances, kidney dialysis machines, kiosks and ATM machines, among other technology products.

Two companies are working to establish data centres at the park.

The government is also preparing a package of investment-policy measures aimed at attracting more investment to hi-tech parks, the minister said.

The proposals include duty and tax benefits on imports of capital machinery, VAT benefits on essential services including electricity and gas, expansion of the list of hi-tech products and extending benefits to assemblers alongside manufacturers.

The minister said proposals were also being prepared for customs and tax rebates on raw materials for marketing products in the local market, stable income tax benefits and separate incentive structures for emerging technology sectors such as EV batteries, solar batteries, UPS batteries and e-bikes.

Anam said investment at the facility at Kaliakair could increase further if infrastructural capacity is accompanied by long-term and predictable policy benefits as such a scenario would create opportunities to increase local productions, reduce import dependence, expand exports and generate high-skilled employment.

The minister said the government is committed to opening new horizons for the technology industry by developing infrastructure for information technology and hi-tech industries, creating an ecosystem for technology-based industries, building links among industry, academia and government, and ensuring quick one-stop services for investors.

"Alongside these, Bangladesh will be transformed into a Made in Bangladesh hub by prioritising investment attraction, skilled human resource development, entrepreneurship creation and employment," he said.

Anam recalled the past BNP government, under Begum Khaleda Zia’s 2001-2006 premiership, formulated Bangladesh’s first ICT Policy in 2002 seeking to develop ICT infrastructure, software industry and technology-based industrial zones or hi-tech industrial zones.

He said under that policy, a decision was taken in February, 2004 to establish the country's first hi-tech park on 231.65 acres of land at Kaliakair while the facility’s area was expanded adding another 97.33 acres in 2016.

The minister said domestic and foreign companies were allotted land and ready spaces after basic infrastructure was developed, creating opportunities for the growth of software, apps, hardware and ICT-based industries, attracting investment and enhancing Bangladesh's competitiveness in the international market.

The Park’s Managing Director Md Fazlur Rahman, senior officials, representatives of relevant government offices, local administration and law enforcement agencies were present during his visit, reports BSS.