The economic policy board of the interim government has chosen Japan to be the builder of the much-anticipated Matarbari deep-sea port project, marking a significant step forward in promoting economic development. This decision is meant to guarantee superior work considering the current geopolitical unrest.
Planning Adviser Professor Wahiduddin Mahmud announced a meeting of the Executive Committee of the National Economic Council (ECNEC) on Monday. He emphasised that picking a contractor from Japan has many advantages, noting that projects financed by Japan are renowned for their prompt completion and competent contractor management. “Japan’s rigorous oversight of contractors gives us confidence that quality will be maintained throughout the Matarbari port construction,” he said.
The building of the deep-sea port of Matarbari is considered essential to mitigating the capacity limitations of current seaports such as Chittagong and Payra, which are expected to reach their operational limits in the near future. The project’s approved cost has been increased to Taka 243.81 billion, and December 2029 has been added to the completion deadline.
It is expected that the development of this deep-sea port will greatly improve Bangladesh’s export potential. Export logistics will be simplified by the larger vessels that the modern port infrastructure can handle and the increased capacity for handling cargo. Industries that rely on imports and exports, such as textiles, agriculture, and medicines, should benefit from faster and less expensive shipping as output ramps up.
Apart from the Matarbari project, the ECNEC meeting approved other important projects, like building the Kalurghat railway-road bridge, which is intended to enhance the nation’s transport infrastructure and stimulate economic growth.
In addition, Professor Mahmud discussed the value of high-quality statistics in economic planning and pledged to protect the Bangladesh Bureau of Statistics’ (BBS) autonomy from political interference. In order to improve the management of public funds, he promised to improve the tracking and utilisation of public transportation.
Turning his attention elsewhere, he announced that, in the face of political pressure, the government now intended to put quality results ahead of quantity of initiatives. The government is committed to finding a middle ground between the need to create jobs and maintain steady economic activity across the country and budget cuts for development.
In the end, building the deep-sea port at Matarbari strengthens Bangladesh’s infrastructure and improves its standing in global trade, opening the door to further exports and economic expansion.