Tripura Chief Minister Biplab Kumar Deb has said a Special Economic Zone (SEZ) will be set up at Sabroom town, near India-Bangladesh border, with an objective to attract investments from the neighbouring country.
He also urged the investors from Bangladesh to set up industries in the state taking advantage of Tripura's business-friendly condition and improving infrastructure.
"Tripura's first ever SEZ will be set up in Sabroom, a sub-divisional town near the Indo-Bangla international border. The Union ministry of commerce has convened a meeting on October 4 in New Delhi to finalise the proposed SEZ," Deb said.
Sabroom town is just 70 km from the Chittagong port.
A bridge on the trans-boundary river 'Feni' is being built to connect the town with the port city of the neighbouring country, he said, adding that a road from the bridge in Bangladesh side is also being constructed, which will also connect Cox's Bazar.
"Sabroom has been identified for setting up the SEZ as the Indian Railways has built a goods dumping yard there. The bridge over the river Feni will be completed by 2020 and an International Check Post (ICP) will also be built soon", Deb said.
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He said the BJP had made a poll promise before the last year's assembly elections to set up the SEZ.
It takes at least 25 acres of land to set up a SEZ as per guidelines, but the state government has asked the Centre to relax the norms for the project, he said.
Elaborating on the need of investments from the neighbouring country, Deb said he would submit a memorandum to S Jaishankar, Minister of External Affairs to liberalise some laws related to foreign investments into the north eastern region.
"I have urged the investors from Bangladesh as there is investor's friendly atmosphere in the state and proximity plays a major role," Deb told reporters on Tuesday night in an informal meeting.
Tripura shares 856 km long border with Bangladesh, he said adding that the entire north-east is landlocked and there is communication bottleneck.
"But investors from Bangladesh do not face these problems," he added.