BEPZA EZ secures major investment

The Bangladesh Export Processing Zones Authority (BEPZA) continues to attract significant foreign investment as Prime Leaf Processing Company Ltd becomes the 40th company to sign a lease agreement in the BEPZA Economic Zone (BEPZA EZ).

This milestone further solidifies the zone's growing reputation as a key destination for global business ventures, says a press release.

Prime Leaf Processing, a company jointly owned by Singapore, UAE, and India, is set to invest US$ 8.84 million to establish a tobacco processing industry in the BEPZA EZ, the release adds.

Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Chairman of Prime Leaf Processing Company Ltd Meng Li signed the agreement on Thursday at the BEPZA Complex in Dhaka in presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman.

Senior officials and representatives of the company, senior BEPZA officials, including Member (Engineering) Md. Imtiaz Hossain, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam, Executive Director (Public Relations) ASM Anwar Parvez, and representatives of Prime Leaf Processing Company Limited witnessed the deal signing.

As per the agreement, the company will produce 36,000 tonnes of cut rags and cut rolled expanded steam annually and is expected to create employment opportunities for 100 Bangladeshi nationals.

This new venture is another testament to BEPZA efforts to diversify its industrial base and provide global investors with an ideal business environment.

Speaking on the occasion, the BEPZA Executive Chairman expressed his gratitude to Prime Leaf Processing for choosing Bangladesh, particularly BEPZA EZ, as their investment destination.

Prime Leaf Processing Chairman Meng Li thanked BEPZA for its support in setting up the company's factory in the economic zone.

"We look forward to starting operations by August 2025, and we are optimistic about the positive impact on both the local economy and the workforce," he said.

With this agreement, the BEPZA Economic Zone has secured a total proposed investment of US$ 926.50 million from 40 companies, showcasing the zone potential for attracting a wide range of industries.