The Bangladesh Export Processing Zones Authority (BEPZA) has formalised land lease agreements with four enterprises to facilitate the establishment of industries within the BEPZA Economic Zone at Mirsharai, Chattogram.
According to a press release, the agreements, which were signed today at the BEPZA Complex in Dhaka, represent a proposed investment of US $ 111.26 million and will create jobs for about 7,607 Bangladeshi nationals.
Three of the four investors are entirely foreign-owned—China, Singapore and a joint venture between China and Singapore—while one is a Bangladeshi business. The new businesses will work in apparel accessories, testing services, leather processing and footwear industries.
The Chinese company Tai Ma Shoes (BD) Co., Ltd., is the signatory with the greatest investment, contributing US $ 55.05 million to build a footwear manufacturing facility. The factory will generate employment for 5,900 people and make seven million pairs of formal and casual shoes every year.
A Singaporean business called Bangladesh Songshin Leather Co., Ltd., will invest US $ 25.03 million to establish a factory for processing leather. The enterprise will employ 480 Bangladeshi citizens and manufacture 36 million square feet of finished leather from crust leather each year.
A jointly held firm between China and Singapore, Annray Holding (BD) Co., Ltd., will invest US $ 20.03 million to build a service-oriented testing facility that will provide raw material and finished product testing facilities to enterprises throughout Bangladesh, especially those in BEPZA EZ. In this testing facility, the company will have 770 employees.
With an annual production goal of 20,000 metric tonnes, Wraptox Industries Ltd., a Bangladeshi company, will invest US $ 11.15 million to create clothing accessories like labels, tags, tapes and printing and packaging materials, generating 457 employment.
The agreements were signed by Md. Ashraful Kabir, Member (Investment Promotion), on behalf of BEPZA and by Liao Weijun, Chairman of Tai Ma Shoes (BD) Co., Ltd.; Zhang Guangxin, General Manager of Bangladesh Songshin Leather Co., Ltd.; Hu Xinlin, General Manager of Annray Holding (BD) Co., Ltd.; and Md. Morshed Khan, Managing Director of Wraptox Industries Ltd.
Major General Mohammad Moazzem Hossain, the Executive Chairman of BEPZA, was the principal guest during the signing ceremony.
The Executive Chairman congratulated the new investors and expressed gratitude for their decision to invest in the BEPZA Economic Zone. He reiterated BEPZA’s unwavering dedication to enabling seamless commercial operations, supported by a committed and genuine personnel.
In order to guarantee the highest degree of investor satisfaction, he added, BEPZA is constantly updating its service delivery system. The Chairman urged the businesses to start building as soon as possible and to start exporting as soon as possible. He also asked the investors to encourage their colleagues to look at investment opportunities in Bangladesh, especially those in the electronics industry.
