The industrial park project, located at Bawshia at Gajaria upazila in Munshiganj district, will be ready for relocation of the garment units in a span of three years, according to the plan.

Initiated by Industries Ministry, the project will be implemented by Bangladesh Small and Cottage Industries Corporation (Bscic). BGMEA will take the responsibility of supervising the industrial park after its completion by June 2009.

Aiming to manufacture apparel products, the main foreign export earner of the country, in a decent environment, BGMEA and Bscic inked yesterday a memorandum of understanding (MoU).

S R Osmani, chairman of Bscic and S M Fazlul Hoque, president of BGMEA, signed the deal on behalf of their respective organisations.

Md Anwarul Iqbal, adviser for Local Government, Rural Development and Cooperatives, was present at the signing ceremony.

World Bank and government will provide 60 percent and 40 percent financial assistance respectively for the Tk310crore project.

As per the project outline, the government initiates the project to give an organised shape of the Dhaka city's garment factories mushrooming in an unplanned way.

According to the BGMEA, a total of 3481 garment units are located in the greater Dhaka city, where 80 percent of the total 20lakh workers are employed.

The increased population density over the Dhaka city will be reduced significantly on the RMG units' relocation to the park.

The park will be set up on an area of 300acres in the Bscic industrial belt, where facilities like sewerage system, drain-culvert, power, water, gas, private and nationalised banks, post office, telephone exchange, courier service, medical facilities, private small plant, accommodation facilities for workers, police station, shopping centre, children's park will be available.

Speaking as chief guest, Md Anwarul Iqbal said it is government's duty to encourage most of the export-oriented industries, and the new move to set up the park is part of that.

He said as the major portion of the funding for this project is expected to be mobilised from the RMG entrepreneurs, its completion on time would not be a problem, the adviser, also in charge of the ministry of labour and employment, hoped.

The project now awaits the nod of the Executive Committee of National Economic Council (Ecnec).

He also asked the RMG units owners to look to the East Policy to enhance share of the Bangladeshi apparel products in the world market.

He said, "We are exporting major portion of our ready made garments to the western market. But at the same time we should look for an alternative market for Bangladesh leaning also towards the eastern market in order to retain our global market share".

The Bscic has now 67 industrial parks and it is planning to have another 37 within a short time. To relocate more RMG units from the capital city, the scope for setting up more garments industrial parks would be examined, said the Bscic chairman.

Terming the project as a milestone for the garments industry, the BGMEA president said, "If government provides such facilities to the industry we can achieve a tremendous market share in the global market."

Dr Nurul Amin, industries secretary, former BGMEA presidents Annisul Huq, Tipu Munshi and Kazi Moniruzzaman were present at the function.