In January 2004, then Finance Minister M. Saifur Rahman approved the creation of Mymensingh Engineering College and Sylhet Engineering College. On 9 May 2006, a budget of ৳56 crore was proposed for Mymensingh Engineering College project in the meeting of the Executive Committee of National Economic Council (ECNEC). The two Engineering College project works continued from July 2004 to June 2007. After this time it was handed over to the Ministry of Education. During the revised Budget fixation for Sylhet Engineering College, the Minister hinted about a plan to merge these two colleges into an engineering university. The college was inaugurated by Former Minister Motiur Rahman on 4 July 2009. After that, a project of ৳27 cr was taken in hand for development of Mymensingh Engineering College. The project was fully completed in 2011. The administration admitted 60 students (by admission test) into Electrical and Electronic Engineering Department on 4 July 2009. In Session 2008–2009, EEE department was introduced as the 1st batch of Mymensingh Engineering College. In the 2014-15 Session, the CE department was introduced. There is a hope that in future it will be upgraded into full-fledged Public Engineering University called Mymensingh University of Engineering and Technology (MUET).