Bangladesh Plans $500 Million Tourism Project in Cox’s Bazar

A major investment is being planned for Bangladesh’s tourism sector. An initiative has been taken to develop a five-star, eco-friendly resort in Cox’s Bazar with a potential international investment of around $500 million. The project involves a Bangladeshi business group and experienced investors from Malaysia and the Maldives. If implemented, it could add new facilities to Cox’s Bazar’s tourism infrastructure, attract more foreign tourists, create jobs and increase investment in the local economy.

As part of the initiative, Malaysian businessman and hotel-resort entrepreneur Mr. Tan Sri Syed Yusof Jojo, former Maldivian Vice President and Tourism Minister Ahmed Adeeb, and Dr Kamrul Ahsan, chairman of Versatilo Group of Bangladesh, signed a memorandum of understanding (MoU). The MoU was signed at the Pullman Hotel in Kuala Lumpur, according to a press release.

According to the initial plan, a large-scale sustainable, eco-friendly and luxury resort will be developed in the Cox’s Bazar-Teknaf region. A joint investment company is also planned to be established in Bangladesh to implement the project. The proposed resort will include luxury hotels and villas, international-standard restaurants, health and wellness centres, entertainment facilities and nature-based tourism infrastructure. Modern facilities for international tourists are also being considered.

Discussions are reportedly underway with international hotel brands, including Movenpick, Novotel and Grand Hyatt, regarding the project’s branding and management. The brand and operating company will be finalised after commercial negotiations and formal procedures are completed.

Cox’s Bazar is one of Bangladesh’s major tourist destinations, centred around the world’s longest natural sea beach. Its beaches, hills, forests, islands and coastal landscapes attract local and foreign tourists throughout the year. However, further development of modern infrastructure, international-standard accommodation, entertainment, health and wellness facilities and nature-based tourism is needed to strengthen its position in the international tourism market.

A large foreign investment of this scale could create direct and indirect employment opportunities in Cox’s Bazar’s tourism sector. The impact could extend beyond hotels and resorts to transport, restaurants, local products, handicrafts, entertainment, tourism services and small businesses. It could also create opportunities to connect local entrepreneurs with international tourism businesses.

Mr. Tan Sri Syed Yusof Jojo has extensive experience in Malaysia’s hotel and tourism sectors. According to the press release, he has been involved in projects including Four Seasons Kuala Lumpur, Concorde Hotel, Casa del Mar Langkawi, Casa del Rio Melaka, JW Marriott Resort and Hard Rock Hotel Penang. After signing the MoU, Mr. Yusof Jojo said he was pleased to be part of a new chapter in Bangladesh’s tourism sector. He described the initiative to develop an international-standard eco-friendly resort in Cox’s Bazar as an attractive investment opportunity.

Former Maldivian Vice President and Tourism Minister Ahmed Adeeb also expressed interest in using his tourism-sector experience in the project. He said there was an opportunity to apply the Maldives’ experience in tourism development to Bangladesh’s coastal areas.

Environmental protection and security were also highlighted as important issues alongside the investment. The Cox’s Bazar-Teknaf coastal region is important for both tourism and biodiversity. Therefore, stakeholders say the project must maintain environmental balance, protect hills, beaches and natural forests, ensure proper waste management, and manage water and energy resources responsibly while protecting the interests and security of local communities.

Experts say that if Cox’s Bazar can develop international-standard tourism infrastructure while protecting its natural beauty and environment, the area could be promoted more effectively in both domestic and international tourism markets. This could create new opportunities for foreign exchange earnings and expand the local economy.

However, the proposed $500 million investment is still at the MoU and planning stage. Details regarding the final investment structure, land, government approvals, environmental clearance, construction period, financing and implementing company will be decided through the next stages of the formal process. Stakeholders also stress the need to prevent extortion and ensure legal protection for investors as the project moves forward.