Construction of the long-awaited Chinese Economic and Industrial Zone (CEIZ) in Chattogram’s Anwara is set to begin on Monday, marking a major milestone after more than a decade of delays.

The government-to-government flagship project is expected to attract around $500 million in foreign direct investment (FDI) and create more than 100,000 direct and indirect jobs, according to officials.

The foundation stone will be laid at 10:00am by Finance Minister Amir Khasru Mahmud Chowdhury, Home Affairs Adviser Salahuddin Ahmed, Chinese Ambassador Yao Wen and Bangladesh Economic Zones Authority (BEZA) Executive Chairman Ashik Chowdhury.

Spread over nearly 800 acres, the economic zone aims to strengthen Bangladesh-China economic cooperation and expand the country’s export-oriented manufacturing base. The project is scheduled for completion by 31 December 2031.

Business leaders welcomed the development, saying the dedicated Chinese industrial zone would boost bilateral trade, attract additional foreign investment and enhance Bangladesh’s manufacturing competitiveness.

BGMEA Director SM Abu Tayeb said local production of fabrics, accessories and other raw materials by Chinese manufacturers within the zone would significantly reduce lead times and production costs for Bangladesh’s ready-made garment sector.

Officials said the zone is expected to host investments in advanced textiles, pharmaceuticals, light engineering, information technology and other export-oriented industries. More than 30 Chinese companies have already pledged investments worth around $500 million.