In a move set to bolster Bangladesh’s export industry, Chinese company Song Shin Leather (BD) Limited has announced its plans to invest a significant sum of US$6 million in setting up a Leather processing industry within the Cumilla Export Processing Zone (EPZ).
The agreement sealing this investment was formalized in a signing ceremony held at the Bangladesh Export Processing Zones Authority (BEPZA) Complex in Dhaka on Wednesday. The ceremony marked the collaboration between BEPZA and Song Shin Leather (BD) Co. Limited, signifying a pivotal moment in Bangladesh’s industrial landscape.
According to the terms of the agreement, Song Shin Leather (BD) Limited will utilize the investment to establish facilities capable of annually producing 8 million square feet of ‘Cow Finished Leather’ and ‘Buffalo Finished Leather’ within the Cumilla EPZ. This significant production capacity is poised to not only contribute to the country’s export capabilities but also generate employment opportunities for 100 Bangladeshi nationals, thereby fostering economic growth and development within the region.
The signing ceremony, attended by key dignitaries including BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, underscored the mutual commitment of both parties towards fostering fruitful partnerships in the realm of industrial development. Representing BEPZA, Ali Reza Mazid, Member (Investment Promotion), alongside Wang Jingzhao, General Manager of Song Shin Leather (BD) Co. Limited, put pen to paper, solidifying the agreement and laying the groundwork for collaborative endeavors in the foreseeable future.
This strategic investment by Song Shin Leather (BD) Limited not only underscores the confidence of foreign investors in Bangladesh’s economic potential but also signifies a significant milestone in the nation’s quest for industrial expansion and diversification. With the establishment of state-of-the-art leather processing facilities within the Cumilla EPZ, Bangladesh is poised to strengthen its position as a key player in the global leather market while simultaneously fostering job creation and economic prosperity at home.
In conclusion, the collaboration between Song Shin Leather (BD) Limited and BEPZA marks a significant step forward in Bangladesh’s journey towards industrial development and economic growth. With the infusion of US$6 million into the establishment of leather processing facilities within the Cumilla EPZ, this partnership not only augments the country’s export capabilities but also creates valuable employment opportunities, thereby catalyzing socio-economic progress and prosperity for the Bangladeshi people.
Read related article: – https://leathernews.org/bangladesh-leather-industry-government-considers-halving-leather-goods-export-tax/
