Four companies have signed land lease agreements with the Bangladesh Export Processing Zones Authority (Bepza) to invest a total of $111.26 million in the Bepza Economic Zone at Mirsharai, Chattogram.
The companies are Tai Ma Shoes (BD) Co Ltd, Bangladesh Songshin Leather Co Ltd, Annray Holding (BD) Co Ltd and Wraptox Industries Ltd.
According to Bepza, the first three are fully foreign owned while Wraptox is a Bangladeshi company.
These new ventures will focus on footwear manufacturing, leather manufacturing, testing services and garment accessories production.
Tai Ma Shoes (BD) Co Ltd, a Chinese company, is making the largest investment worth $55.05 million. It plans to set up a footwear factory capable of producing 7 million pairs annually and creating 5900 jobs.
Bangladesh Songshin Leather Co Ltd, based in Singapore, will invest $25.03 million to establish a leather processing plant with a yearly capacity of 36 million square feet of finished leather. The project will employ around 480 people.
Annray Holding (BD) Co Ltd, a joint venture between China and Singapore, is investing $20.03 million to build a testing laboratory that will serve industries across the country, especially within the economic zone. It will create 770 jobs.
Wraptox Industries Ltd, the only local firm in the group, will invest $11.15 million to manufacture garment accessories such as labels, tags, tapes and packaging materials. The factory aims to produce 20,000 tonnes annually and employ 457 workers.
Md Ashraful Kabir, member for investment promotion at Bepza, signed the agreements with company representatives at the Bepza Complex in Dhaka.
He said Bepza is upgrading its services to improve investor satisfaction and urged the firms to begin construction quickly and start exports soon. He also encouraged them to bring in more investors, especially in electronics.
“I think Bepza EZ is our good choice. We look forward to growing together.”
– Jc, Chairman, Song Shin Group Pte Ltd
The agreements mark another milestone in Bangladesh’s efforts to attract foreign investment and diversify industrial activities under Bepza’s economic zones.
