The Moheshkhali–Matarbari Integrated Development Initiative, a flagship government project, could transform southeastern Bangladesh into a major economic hub, with total investments projected at $60–65 billion over the next two to three decades.

Moheshkhali–Matarbari Integrated Development Authority chairman Chowdhury Ashik Mahmud Bin Harun on Wednesday said that the project was expected to create around 150,000 direct jobs and could indirectly support up to 25 lakh employment opportunities over the long term.

Speaking at a press briefing at the Foreign Service Academy in the capital, Ashik Mahmud said that the total GDP impact from the initiative was projected at approximately $150 billion, with a direct contribution of $70–75 billion.

The chief adviser’s press secretary, Shafiqul Alam, was also present at the press conference.

Ashik outlined the initiative’s ambitious vision to integrate deep-sea port facilities, power generation, manufacturing, and fisheries, positioning the region as a commercial and industrial powerhouse.

According to the MIDA chairman, the project was structured around four core pillars: power and energy, deep-sea port and logistics, manufacturing, and fisheries.

He explained that the power and energy pillar would ensure reliable industrial electricity, with potential development of gas-fired and nuclear power plants to serve the Chattogram region, while the deep-sea port at Matarbari would accommodate large vessels currently unable to access Bangladesh’s river ports, significantly reducing shipping costs and transit times for imports and exports.

He said that the manufacturing component was focused on creating industrial parks, free trade zones, and storage facilities, aiming to attract both local and foreign firms in sectors such as oil refining, garments, and consumer goods.

Ashik said that the fisheries and maritime industries sought to capitalise on the Bay of Bengal’s untapped resources, including deep-sea fishing, fish processing, shipbuilding, and ship repair, thereby generating additional revenue streams and export opportunities.

The MIDA strategic vision showed that the deep-sea port, with a natural depth of approximately 18.5 metres, would allow large ships to dock directly, improving competitiveness and providing direct access to international shipping routes.

The chairman explained that its proximity to land suitable for power, energy, manufacturing, and heavy industry would enable the creation of a synergistic ecosystem supporting industrial growth and trade.

He added that MIDA would play a critical role in sustaining Cox’s Bazar’s economy and expanding tourist activity.

The project is planned over a 30-year horizon in three phases, with the first, the incubation period until 2030, focusing on foundational development, including the launch of the deep-sea port, power hubs, and connectivity via roads and rail.

The second phase, from 2030 to 2045, would expand the ecosystem, including LNG terminals and initial industrial zones, while the final diversification phase, 2045–2055, would encompass tourism, eco-tourism, and integrated urban development, linking Moheshkhali and Cox’s Bazar into a cohesive commercial township.

According to MIDA, the deep-sea port and logistics pillar aimes to increase port capacity by 50 percent over the next 30 years, catering to around 25 percent of the country’s bulk traffic and 45 percent of container traffic.

Reduced shipping costs were expected to benefit consumers, with examples such as lowering the price of a 12kg LPG cylinder by around Tk 50.

MIDA chairman said that supporting infrastructure, including container freight stations, widened four-lane roads, and enhanced rail connectivity, would strengthen the logistics network, while future prospects include shipbuilding, recycling, and steel manufacturing.

He explained that the manufacturing pillar would harness the port’s cost competitiveness for both bulk and containerised goods, supporting industries including steel, agro and food processing, automobiles, electronics, pharmaceuticals, synthetic fibres, and shipbuilding.

Regarding the power and energy pillar, it was stated that the aim is to ensure energy security, meet 90 per cent of domestic demand, and reduce import dependency.

The hub is strategically suited for LNG and LPG imports and may include domestic refining of petroleum, oil, and lubricants to meet up to 35 per cent of total product demand, potentially saving $3.4 billion in logistics costs.

On fisheries, MIDA chairman highlighted untapped opportunities in deep-sea fishing and fish processing, targeting value-added exports such as fillet, smoked fish, and ready-to-eat seafood.

He said that the Bay of Bengal accounts for seven percent of global fisheries, supporting more than 450 million people, and that the logistics infrastructure is expected to attract foreign investment in sectors like scallop processing, potentially worth $500 million.

The chairman said that a 120-day work plan, starting in the fourth quarter of 2025, would involve coordination among more than ten government organisations to finalise the MIDA Master Plan, thereby establishing a long-term roadmap for the project.

He said that by combining strategic location, deep-sea access, industrial hubs, and integrated infrastructure planning, MIDA was expected to drive regional development, boost tourist inflows, generate millions of jobs, and enhance Bangladesh’s competitiveness in global trade and investment.