UK firm renews 30-year lease at Dhaka EPZ

Experience Clothing Company Limited, a UK-owned garment manufacturer, has renewed its lease at the Dhaka Export Processing Zone for another 30 years after completing its initial term.

The company has invested $15.16 million in the zone since its establishment and currently employs 2,485 Bangladeshi nationals, according to a press release.

Bangladesh Export Processing Zones Authority (Bepza) Executive Director for Investment Promotion Md Tanvir Hossain and Experience Clothing Company Director Zulfiquar Maqsood signed the renewal agreement today at a ceremony attended by senior Bepza officials.

Bepza said the renewal reflects continued foreign investor confidence in Bangladesh's investment climate.