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4 firms invest $50mn in Bangabandhu Sheikh Mujib Shilpa Nagar economic zone

BEPZA has signed land lease agreements for the first time with 4 local and foreign companies to set up industries in BEPZA Economic Zone. 3 fully foreign-owned companies of the United States, China and Sri Lanka and a Bangladeshi company have signed the agreements today (19-02-2022) at BEPZA Complex, Dhaka. They will invest US$ 50 million in garments, garments accessories, camping equipment and shoe accessories industries which will create employment opportunities for 23,453 Bangladeshi nationals.

4-firms-invest $50mn-Bangabandhu-Sheikh-Mujib-Shilpa-Nagar-BEPZA
Figure: Four firms signed investment agreement at BEPZA Complex, Dhaka.

On behalf of BEPZA, Member (Investment Promotion) Ali Reza Mazid and Director of Univogue Garments Company Limited Jagath Priyantha, Chairman of Fengqun Composite Material Co., (BD) Ltd. He Zaiqun, Representative of Campex (BD) Limited Shahadat Musharraf Khan & Managing Director of TexTrim Labels (BD) Limited Abul kalam Sikder signed the agreements on behalf of their respective organizations. The process of establishing industries in BEPZA Economic Zone at Bangabandhu Sheikh Mujib Shilpa Nagar starts officially by signing these agreements.

Principal Secretary to the Honourable Prime Minister Dr. Ahmad Kaikaus said, BEPZA has a unique magnetic power to attract investment which ultimately contributes to the economic development of the country. BEPZA is not only helping to integrate with the global economy but also upgrading the life standards of the people, He added. Mentioning the agreement signing as the beginning of a new era, the Principal Secretary hoped that more giant industries will come in the BEPZA Economic Zone in the coming days.

Congratulating the new investors, BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc said that BEPZA is now one of the most successful organizations in the country considering its experience, capabilities, expertise and professional excellence achieved during the journey of 40 years in serving the country’s export-oriented industries. Investors’ confidence has made BEPZA a brand in the global arena, He added. Referring to the land lease agreement signing of BEPZA Economic Zone as a milestone in the growing success of BEPZA, he said that in light of the experience and capabilities BEPZA will be successful in operating Economic Zone too.

BEPZA Executive Chairman said, Hon’ble Prime Minister Sheikh Hasina made a significant plan to establish 100 Economic Zones in the country aiming to take the country’s industrial sector to the next level in light of the dream of Father of the Nation Bangabandhu. BEPZA Economic Zone is a great outcome of that vision.

Major General Abul Kalam Mohammad Ziaur Rahman said, “We have received applications for 643 industrial plots against 539 nos. which is very encouraging. In the first phase, we received an application from 81 entrepreneurs against the prepared 160 nos. of industrial plot from which 6 companies have received final permission, out of the 4 companies have signed lease agreements today.”

He hopes that the companies would be able to start their commercial operation in the shortest possible time by completing the construction work of the factory building and BEPZA will provide all sorts of cooperation and support to them.

Shaikh Yusuf Harun, Executive Chairman of Bangladesh Economic Zones Authority (BEZA) said, “This is undoubtedly a praiseworthy achievement for BEPZA which will accelerate the flow of investment in future. BEPZA is operating its EPZs successfully with efficiency which is an inspiration for BEZA. He hoped that BEZA and BEPZA will be able to contribute more to the development of the country by working together.

S M Khan, President of Bangladesh EPZs Investors’ Association (BEPZIA) said that the investment-friendly atmosphere created by BEPZA for the investors over the last 40 years is excellent. He thanked BEPZA on behalf of the investors.

Among the signatories, the Sri Lankan industry M/s. Univogue Garments Company Limited will set up a garment industry with an investment of US$ 36.49 million. The company will produce 32.14 million pieces of woven bottoms and woven jackets annually where 17,896 Bangladeshi nationals will get employment opportunities.

M/s. Fengqun Composite Material Co., (BD) Ltd., a fully foreign-owned Chinese company will set up a shoe accessories industry with an investment of US$ 2.22 million. The company will annually produce 35,000 tons of shoe accessories (foam, foam PU insole, lamination goods, footwear items, etc.) and packaging items (cartoon, paperboard box, inner box, chipboard packaging, etc. The company will create employment opportunities for 360 Bangladeshi nationals.

M/s. Campex (BD) Limited, a USA-owned enterprise will set up a tent, tent accessories and outdoor garment manufacturing industry with an investment of US$ 10 million where 5,000 Bangladeshi nationals will get employment opportunities. The company will produce 5 million pieces of tents, backpacks, packing bags, movie screens, projectors, screen walls, lockers, sunscreens, balcony screens, seat covers, camping furniture, raincoats, jackets, etc. annually.

Bangladeshi company M/s. TexTrim Labels (BD) Limited will set up garment accessories and paper converting industry with an investment of US$ 1.27 million which will create employment opportunities for 197 Bangladeshi nationals. The company will annually produce 11,717 tons of thermal sticker labels, plotter marking paper, care labels, master carton boxes, screenprints, heat transfer and transfer labels, tags, etc.

Mentionable, Hon’ble Prime Minister Sheikh Hasina unveiled the foundation stone of BEPZA Economic Zone established on 1138.55 acres of land at Bangabandhu Sheikh Mujib Shilpa Nagar on 24 January 2018. According to the master plan, 539 nos. of industrial plots of 3600 sq m each with modern amenities will be established here. It will be possible to establish 300-350 industries, create employment opportunities for around 5 lac Bangladeshi nationals and attract investment of about US$ 4.5 billion after being operational in full swing.

Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md. Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam, Project Director of BEPZA EZ Md. Hafizur Rahman and Executive Director (Security) Lt Col ASM Quamruzzaman, PBGM along with other senior officials of BEPZA, PMO and the investors of EPZs were present during this time.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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