BEPZA Inks Deals with 4 Companies to Set Up Industries

Bangladesh Export Processing Zones Authority (BEPZA) has signed land lease agreements for the first time with four local and foreign companies to set up industries in BEPZA Economic Zone.

Three fully foreign-owned companies of the United States, China and Sri Lanka and a Bangladeshi company today signed the agreements at BEPZA Complex in Dhaka, said a press release.

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.

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 and 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 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.

Among the signatories, the Sri Lankan industry M/s. Univogue Garments Company Limited will set up a garment industry with an investment of $ 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 $ 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 $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 $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 label, master cartoon box, screen print, heat transfer and transfer label, tag, etc.

Mentionable, 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 lakh Bangladeshi nationals and attract investment of about US$ 4.5 billion after being operational in full swing.