The decision was discussed on Monday during a meeting of six specialised investment agencies, chaired by the Chief Adviser.
Representatives from the Bangladesh Economic Zones Authority, the Bangladesh Investment Development Authority and the Matarbari Investment Development Authority attended the meeting.
During the meeting, the proposal for setting up the Defence Industrial Zone was approved and it will be presented to the Advisory Council in the coming days.
After the meeting, Ashiq Chowdhury briefed the media at the Foreign Service Academy in Dhaka. He said the land had earlier been allocated for an economic zone with Indian cooperation.
He added that after the agreement with India ended, the land became available for the defence industrial project.
According to Ashiq Chowdhury, the project has now been included in the master plan of the Economic Zones Authority.
He said the proposal will be placed before the next meeting of the Advisory Council.
Mohammad Shafiq Islam, Secretary to the Principal Adviser, was also present during the media briefing.
