The construction of this tourist site is scheduled to end in 2020
The construction of the Naf Tourism Park project is starting in Jaliyar Dwip, in Teknaf, Cox's Bazar.
The first development phase, including: jetty-construction, land reclamation, land development, and road building, hasbegun.
Naf Tourism Park is being built on the 271 acre island called Jaliyar Dwip. The island is situated on the Naf River, which flows along the Bangladesh-Myanmar border region, near Teknaf, Cox's Bazar.
The construction work of this tourist site is due to end in 2020; it will then open for tourists.
Bangladesh Economic Zones Authority (BEZA) is supervising this economic zone. BEZA has already sought the government’s clearance to grant this project a loan at a 1% interest rate.
Cox's Bazar Deputy Commissioner Md Kamal Hossain said: "The government wants to expand the tourism industry by developing a tourist spot on this island in the middle of Naf River.
"For this reason, the whole island has been allocated to BEZA, as the place is already owned by the government."
The deputy commissioner also said: "Foreign tourists do not usually frequent Bangladesh. They will not come unless we are tolerant and respectful of other's cultures and choices— while retaining our values."
"We need to change our mentality, therefore I hope the implementation of the Naf Tourism Park project will bring more foreign visitors to Bangladesh," he added.
According to BEZA sources, Thailand's Siam Siam International Co. Ltd is interested in investing $50 billion, and signed a Memorandum of Understanding. This organization is experienced in constructing tourism centers.
They have been involved in the construction of Fantasy Kingdom, Foy's Lake, and the Royal Tulip Sea Pearl Beach Resort in Bangladesh.
A feasibility study for Naf Tourism Park was carried out by German-based firm Uni-Consultants, last year. The development of this park will be conducted in several phases over the next five years. This initiative, in turn, will provide employment opportunities for around 12,000 people.
BEZA Executive Chairman Paban Chowdhury told the Dhaka Tribune, BEZA sent a letter to the Finance Ministry, seeking to develop the park’s infrastructure.
A project evaluation meeting was held at the Industry & Energy Division of Planning Commission, where the decision was made to seek clearance from the government of Bangladesh to grant a loan with a 1% interest rate.
However, Siam Siam International has been interested in investing in the project. If everything goes well, the construction of the next phase of the park will commence soon, Paban Chowdhury added.
To speed up the country's economy and planned industrialization, the government had planned to establish 100 economic zones in Bangladesh.
In the next 50-year plan, at least 100,000 acres of land will be made suitable for industrialization.
At the same time, considering the economic importance of tourism, the creation of additional economic zones is being considered for Cox's Bazar.