Bepza EZ in Chattogram welcomes $111 million in investments

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 in Chattogram.

The firms are Tai Ma Shoes (BD) Co Ltd, Bangladesh Songshin Leather Co Ltd, Annray Holding (BD) Co Ltd and Wraptox Industries Ltd. The first three are fully foreign owned, while Wraptox Industries Ltd is a Bangladeshi company, Bepza said in a press release today.

The new ventures will produce footwear, process leather, provide testing services and manufacture garment accessories.

Tai Ma Shoes (BD) Co Ltd, a Chinese company, is making the largest investment at $55.05 million. It will build a footwear factory capable of producing seven million pairs a year. The investment will create 5,900 jobs.

Based in Singapore, Bangladesh Songshin Leather Co Ltd will invest $25.03 million to set up a leather processing plant with an annual capacity of 36 million square feet of finished leather. It will employ 480 workers.

Annray Holding (BD) Co Ltd, a China Singapore joint venture, will invest $20.03 million to establish a testing laboratory for product and raw material testing for industries across the country, specially within the economic zone. It will employ 770 people.

Wraptox Industries Ltd, the only Bangladeshi company among the four, will invest $11.15 million to produce garment accessories including labels, tags, tapes and packaging materials. The factory will have an annual production target of 20,000 tonnes and create jobs for 457 people.

Md Ashraful Kabir, member for investment promotion at Bepza, signed the agreements with Liao Weijun, chairman of Tai Ma Shoes (BD) Co Ltd; Zhang Guangxin, general manager of Bangladesh Songshin Leather Co Ltd, Hu Xinlin, general manager of Annray Holding (BD) Co Ltd; and Md Morshed Khan, managing director of Wraptox Industries Ltd, at the Bepza Complex in Dhaka today.

Maj Gen Mohammad Moazzem Hossain, executive chairman of Bepza, attended the ceremony as the chief guest.

He said Bepza is modernising its service delivery to improve investor satisfaction and urged the companies to begin construction and start exports promptly.

He also encouraged them to bring in more investors, especially in the electronics sector.

Kabir invited Chinese investors to explore opportunities in Bepza economic zones under development in Jashore and Patuakhali, which are being developed as next-generation industrial hubs.

Jc, chairman of Song Shin Group Pte Ltd, expressed satisfaction with Bepza services and business environment, saying, "I think Bepza EZ is our good choice. We look forward to growing together."