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Govt. allowing 28 firms to invest $1.3 bn in 3 economic zones

To diversify Bangladesh’s export basket – the govt. has given a green signal to 28 firms – mostly locals and some foreign firms – to invest around $1.3 billion in three economic zones. The Prime Minister’s Office gave a nod to Bangladesh Economic Zone Authority (Beza) to private sector investments of $1.3 billion in the country’s economic zones.

Bangladesh-28-firms-invest-$1-billion-3-economic-zones
Figure: To diversify Bangladesh’s export basket – the govt. has given a green signal to 28 firms to invest around $1.3 billion in three economic zones. 

The twenty-eight companies will manufacture a wide range of products from textiles, garments, garment accessories, spinning, pharmaceuticals, electronics products, tourism, etc. and help the country to attain sustainable development goals (SDGs) along with growing the living standards of the people.

Beza recently revealed that it has allotted 363.53 acres of land in Bangabandhu Sheikh Mujib Industrial City, Jamalpur Economic Zone, and Sabrang Tourism Park. It also said that these investment proposals will create around 36,000 jobs.

Sheikh Yusuf Harun, Executive Chairman, Beza said, “A land lease agreement would be signed with these companies soon.”

In the Bangabandhu Sheikh Mujib Industrial City, 15 companies will invest. Of them, the local electronic giant Walton alone will invest $0.64 billion in its allotted 100 acres of land. Walton will make electronics products, including refrigerators, televisions, and air conditioners, at the plant.

While, Fakir Knitwear Ltd, Israq Spinning Mills Ltd, Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), KIAM Metal Industries Ltd and Healthcare Pharmaceuticals Ltd, will invest in Bangabandhu Industrial City, according to sources.

Seven companies are going to invest in Sabran Tourism Park. And six companies submitted investment proposals in the Jamalpur Economic Zone.

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