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In totally free marketplace reforms launched by President Ziaur Rahman during the late seventies, the city grew to become home to the initial export processing zones in Bangladesh. Zia was assassinated throughout an tried armed service coup in Chittagong in 1981. The 1991 Bangladesh cyclone inflicted heavy destruction on the city. The Japanese federal government financed the construction of several heavy industries and a global airport while in the nineteen eighties and 1990s. Bangladeshi non-public sector investments elevated given that 1991, Specially While using the development with the Chittagong Stock Trade in 1995.
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A ship built in Chittagong near the Coastline of Hong Kong in 1890 In the course of the thirteenth and 16th hundreds of years, Arabs and Persians seriously colonized the port city of Chittagong, in the beginning arriving for trade and also to unfold Islam. Most Arab settlers arrived through the trade route amongst Iraq and Chittagong and have been perhaps the key cause of the spread of Islam to Bangladesh.[sixteen] The initial Persian settlers also arrived for get more info trade and spiritual reasons, Together with the feasible intention of Persianisation likewise.
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A different airport opened in 2000. The port town continues to be the pivot of Bangladesh's emerging economic climate in recent times, Together with the place's mounting GDP advancement fee. Chittagong has found several infrastructure tasks taken up by the government of Key Minister Sheikh Hasina, including the Chittagong Elevated Expressway, the initial underwater tunnel in South Asia, the enlargement of its port, and new parks, electricity plants and flyovers.[seventy one][72]
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