Economics Landscape of Chittagong

Demography

Population 6:50 million (2001)
Male 3.4 million
Female 3.1 million
Literacy rate 60%

Economic Indicator

Export through Chittagong 75% of county's total export
Import through Chittagong 80% of county's total import
Contribution to Revenue Earning More than 60% of county's total revenue earning
Contributio to GDP 12%($25.5 billion)
International Airport 1

Industry
Chittagong Export Processing Zone (CEPZ)

No of plot 420 (all booked)
No of industry in EPZ Operational 108 (67 foreign, 17 joint venture and 24 local)
Under Implementation projects 10 Industry
Investment in EPZ US$ 320.238 (January, 2002)
Employment About 73,000
Product Range Garments, Textile, Electric & Electronic goods, Footwear & Leather Goods, Marine & Industrial Parts, Camera Lens, Audio Video Tape, Tent, Toys etc.

Expansion of CEPZ

As all the plots of CEPZ have been booked, the abandoned Land of Chittagong Steel Mills Ltd. Of 300 acres has been brought under CEPZ in 2003 in order to meet the growing demand of foreign investors for industrial plots in EPZ.

Private EPZ

Korean Export processing Zone (KEPZ): Being encouraged by highly favorable investment climate in Bangladesh Particularly in Chittagong, the Korean investors have decided to setup separate investment zone for their own. They have already developed land at the bank of river Karnaphuli for this purpose and completed in full suing. The expected investment in this under-construction KEPZ is mounted to be US$ 1 billion.
Rangunia EPZ- This private EPZ is also coming up fast. This EPZ has emphasized of IT related industry and Infrastructure is being developed with that context. Very Good responses have been received from foreign and renowned local IT entrepreneurs to setup industries in this zone.

Multinational companies (except in EPZ)

There are 12 Multinational (Including Glaxo Smith Kline, Reckitt Benckiser, Unilever, James Finaly PLC, BOC Bangldesh Ltd., GEC Bangladesh Ltd., Coats Thread, Berger,KAFCO, Duncan etc.

Foreign companies having
Business offices in Chittagong

There are great number of foreign companies' trading offices including some of world class in Chittgong. These companies don't have their factories here in Bangladesh or Chittagong. They have opened their Offices in Chittagong either to buy goods from Bangladesh or conduct their marketing operation here. As a result, every year a good number of foreign Businessmen have to visit Chittagong.

No. of big Garments factory 510
No. of Tea Garden 22
No. Rubber Garden 8
Fertilizer Factory 03
Oil Refinery 1 (only one in the country)
Jute Mills 24
Textile Mills 33
Tannery 19
No. of Cement factory 8 (some more are under construction)

Industrial sector

Small and Medium scale 4600 (approx) (2001)
Heavy 410(2001)

Educational Institutions

Medical College 2
Government University 2
Private University 6 (some of them with foreign collaboration)
Vocational Training Institute 3
Poly Technique Institute 1

Port
Berth

General 13
Container 2
Specialized 6 (some of them with foreign collaboration)
Cargo Handling Ratio Over 90% pf country's total sea-born cargo is handed By Chittagong port authori

Repair Berth

Dry Dock 2
Mooring 7
Specialized 7 (like Dolphin, CUFL, KAFCO, Cement Clinker etc.)
Total TUEs handled (2000-2001) 490386
Total Cargo Handling 16.907 (Million M.T.)
Average Growth Rate 15%

Under Construction Port Extension Project
New Mooring Container Terminal

The construction work of the New Mooring Container Terminal which is an extension project of existing terminal, has been started on 17th October, 2002. The estimated cost of the project is Tk. 7.5 billion and will be completed by 2004. The lion part of the cost of the project would be provided from port's own fund and the rest would be supplied by ADB. The new Terminal will be 1000 meter long having facilities for berthing of 5 more container vessels. There will have backup pavement of 220000sq. meter and most modern equipment for stacking and handling of containers. With the completion of this new project, Chittagong port will be able to handle additional quantity of 500000 TEUS containers per year. The operational responsibility of this new container terminal will be handed to private sector. With the implementation of this new project Chittgong port will go one step forward to become a transnational hub and will be in a position to consider to provide transit facilities to its landlocked neighboring states as it is demand for a long time. It is expected that with the commission of this new container terminal, Chittagong will turn further into a most haunting regional business city by the foreigners.

Stock Exchange

No of stock Exchange 1
Name Chittagong Stock Exchange (Fully automated)
No. of listed companies 179 (February, 2002)
Market Capitalization) Tk.5387.37 Crore

Power Sector

No. of Power Generation Establishment 3
Total Requirement in Chittagong 380 MW
Total Capacity 420+60+230= 720 MW

Financial Institution

No. of Banks in Operation More than 50 (including some world class foreign Banks)
No. of Insurance in Operation More than 50 (including some multionals)

Oil & Gas Sector

Already in operation Shangu
Daily Production in Shangu 60 million CFT
Under development 2 (Halda Basin & semutaang)

Big New Project
World Trade Centre (WTC)

Recognizing the growing importance and burgeoning prospects and potentials of Chittagong as to become a transnational trade and investment hub as well as to cater to the increasing needs of the entrepreneurs and investors of home and abroad in the context of present day globalized trade regime, Chittagong Chamber of Commerce & Industry has undertaken an ambitious project of constructing a most modern world Trade Centre very shortly in Chittagong, first of its kind in Bangladesh. The WTC will accommodate all the modern and sophisticated trade and investment fostering facilities. It is expected that with the implementation of this WTC project, Chittagong-the commercial capitl and maritime city of Bangladesh will turn into a rendezvous for the global entrepreneurs and investors.

Construction of Tourism Complex in Foy's Lake

Foy's Lake is at the heart of the city. It s featured with tranquil blue water, steep hill, green landscape, deep forest and wild animal. Recognizing the potential for becoming a beautiful tourist spot for the nature loving people, the Government has undertaken a plan of building a comprehensive international tourist complex here in Foy's Lake. The scenic beauty of the area always attracts the people. It is expected that if the construction of comprehensive tourist complex is completed, the project will attract huge number of foreign tourist in Chittagong every year.

Marine Drive Rod along with the coastal area from Feni to Chittgong Port

A four lane road alongwith the coastal area from Feni (100 km. from Chittagong city) to the Chittagong port is going to be constructed by the government very shortly. This rod will facilitate marine drive for the tourists. Completion of this marine drive road will help to attract more foreign tourists in the country and particularly if Chittagong.

Making Dhaka-Chittagong highway four lanes & Railway double tracked

work is on to make the Dhaka-Chittgong Highway 4 laned to ensure speedy and smooth trafficking of goods and people between the capital and commercial capital city of Bangladesh. There is also plan to make the railway line double tracked between Dhaka and Chittagong.

3rd Karnaphuli Bridge

Government is also actively considering to construct a 3rd Karnapuli bridge over the river Karnaphuli to promote investment on the other side of the river.