Sunday, 07 September, 2025
Cox’s Bazar’s Moheshkhali and Matarbari, anchored around a power plant and a deep-sea port, are set to transform into cities comparable to Singapore and Shanghai over the next 30 years, according to BIDA Executive Chairman Ashik Mahmud Bin Harun. He said the projects will not only create “a new version of Chattogram” but also serve as major economic hubs for the country.
“In 30 years, we envision a township here like Singapore and Shanghai. It will be a new Chattogram and a central economic hub,” Ashik said, speaking at a press conference following a meeting with Chief Adviser Prof Muhammad Yunus on Wednesday.
Ashik, who also chairs the newly formed Moheshkhali Integrated Development Authority (MIDA), outlined the government’s ambitious plan for these two coastal zones, emphasizing the scale of the 30-year development blueprint. The project is expected to require investments of $60–65 billion, including $5 billion in foreign direct investment, with the remainder from local sources.
The development is projected to create 150,000 direct jobs and a total of 2.5 million employment opportunities across various sectors, ranging from port operations and industrial facilities to logistics, tourism, and ancillary services.
Chief Adviser Yunus highlighted the strategic importance of building a “blue economy” around Moheshkhali and Matarbari, beyond the construction of a deep-sea port. “This area will not only serve as a facilitation zone but will give birth to a new city. From here, our international connectivity will grow. The sea will become our highway to the world,” he said.
Yunus also stressed the need for comprehensive research on ocean resources, noting that Bangladesh has so far underexplored its marine potential. He called for establishing international-standard training facilities in Moheshkhali, developing academic institutions, and organizing global conferences on the ocean economy.
“Planning the sustainable use of the area’s forest land is equally important,” Yunus added, emphasizing that environmental management will be key to the long-term success of the project.
During the briefing, Ashik presented the Moheshkhali–Matarbari project in detail, including a four-month work plan and the three-phase execution strategy: 2025–2030, 2030–2045, and 2045–2055.
Speaking at the Foreign Service Academy, he explained the rationale behind forming MIDA. He said that in 2014, the previous government envisioned an economic and power hub in Moheshkhali as part of the Big-B project, and a preliminary plan was drafted by JICA in 2018. Covering about 13,355 hectares, the project faced delays due to inter-ministerial issues, prompting the establishment of a dedicated authority to oversee its implementation.
With a combination of industrial, port, and research facilities, the Moheshkhali–Matarbari development is envisioned to become a landmark economic corridor, attracting domestic and foreign investment while positioning Bangladesh as a key player in global maritime trade over the next three decades.
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Cox’s Bazar’s Moheshkhali and Matarbari, anchored around a power plant and a deep-sea port, are set to transform into cities comparable to Singapore and Shanghai over the next 30 years, according to BIDA Executive Chairman Ashik Mahmud Bin Harun. He said the projects will not only create “a new version of Chattogram” but also serve as major economic hubs for the country.
“In 30 years, we envision a township here like Singapore and Shanghai. It will be a new Chattogram and a central economic hub,” Ashik said, speaking at a press conference following a meeting with Chief Adviser Prof Muhammad Yunus on Wednesday.
Ashik, who also chairs the newly formed Moheshkhali Integrated Development Authority (MIDA), outlined the government’s ambitious plan for these two coastal zones, emphasizing the scale of the 30-year development blueprint. The project is expected to require investments of $60–65 billion, including $5 billion in foreign direct investment, with the remainder from local sources.
The development is projected to create 150,000 direct jobs and a total of 2.5 million employment opportunities across various sectors, ranging from port operations and industrial facilities to logistics, tourism, and ancillary services.
Chief Adviser Yunus highlighted the strategic importance of building a “blue economy” around Moheshkhali and Matarbari, beyond the construction of a deep-sea port. “This area will not only serve as a facilitation zone but will give birth to a new city. From here, our international connectivity will grow. The sea will become our highway to the world,” he said.
Yunus also stressed the need for comprehensive research on ocean resources, noting that Bangladesh has so far underexplored its marine potential. He called for establishing international-standard training facilities in Moheshkhali, developing academic institutions, and organizing global conferences on the ocean economy.
“Planning the sustainable use of the area’s forest land is equally important,” Yunus added, emphasizing that environmental management will be key to the long-term success of the project.
During the briefing, Ashik presented the Moheshkhali–Matarbari project in detail, including a four-month work plan and the three-phase execution strategy: 2025–2030, 2030–2045, and 2045–2055.
Speaking at the Foreign Service Academy, he explained the rationale behind forming MIDA. He said that in 2014, the previous government envisioned an economic and power hub in Moheshkhali as part of the Big-B project, and a preliminary plan was drafted by JICA in 2018. Covering about 13,355 hectares, the project faced delays due to inter-ministerial issues, prompting the establishment of a dedicated authority to oversee its implementation.
With a combination of industrial, port, and research facilities, the Moheshkhali–Matarbari development is envisioned to become a landmark economic corridor, attracting domestic and foreign investment while positioning Bangladesh as a key player in global maritime trade over the next three decades.
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