Four firms to invest $50m in BEPZA Economic Zone

BEPZA Economic Zone in Mirsharai of Chattogram, for the first time, is set to house four industrial units that will invest an aggregate amount of US$50 million.
The investors-- three foreign companies and a local one-- will manufacture garment, camping and footwear accessories in the industrial park of Mirsharai, generating employment for over 23,000 people.
To this effect, the four companies inked land lease agreements with the Bangladesh Export Processing Zone Authority (BEPZA) at a ceremony held at the BEPZA Complex in the city's Dhanmondi on Saturday.
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 from Campex (BD) Limited Shahadat Musharraf Khan and Managing Director of TexTrim Labels (BD) Limited Abul kalam Sikder singed the documents on behalf of their respective sides.
The process of establishing industrial units in the BEPZA Economic Zone (BEPZA EZ) at Bangabandhu Sheikh Mujib Shilpa Nagar starts officially with signing of these agreements.
Principal Secretary to the Prime Minister Dr Ahmad Kaikaus attended the ceremony as the chief guest while BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman and Executive Chairman of Bangladesh Economic Zones Authority (BEZA) Shaikh Yusuf Harun were present at the ceremony, among others.
Speaking on the occasion, Dr Ahmad Kaikaus said BEPZA has a unique magnetic power to attract investment that ultimately contributes to the economic development of the country.
"BEPZA is not only helping to integrate with the global economy but also upgrading the living standard of the people," he said.
BEPZA Executive Chairman Mr Rahman said BEPZA is now one of the most successful organisations in the country in view of its experience, capabilities, expertise and professional excellence achieved during the journey of forty years in serving the country's export-oriented industries.
Terming the latest land lease deals a milestone for the economic zone in the growing success of BEPZA, he said with the experience and capabilities, BEPZA will become successful in operating this economic zone too.
"We have received applications for 643 industrial plots against 539 plots in the BEPZA Economic Zone, which is very encouraging," he said.
He expressed the hope that the signee companies would be able to start their commercial operation in the shortest possible time after completion of the construction work of the factories and BEPZA will provide all sorts of cooperation and support to them.
BEZA Executive Chairman Shaikh Yusuf Harun said the first land lease agreements for the BEPZA Economic Zone are undoubtedly a praiseworthy achievement for the authority which will accelerate the flow of investment in future.
He hoped that BEZA and BEPZA will be able to contribute more in the development of the country by working together.
According to investment proposals, Sri Lankan Univogue Garments Company will set up a unit with an investment of US$ 36.49 million to produce woven items.
China's Fengqun Composite Material will establish a shoe accessories factory with an investment of US$ 2.22 million to produce foam, foam PU insole, lamination goods, footwear items and packaging items.
Campex (BD) Limited, a USA-owned enterprise, will set up a tent, tent accessories and outdoor garment manufacturing unit with an investment of US$ 10 million.
Bangladeshi company TexTrim Labels will set up a garment accessories and paper converting unit investing US$ 1.27 million.
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