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BEPZA Signs Deal for Machinery Manufacturing Industry in EZ
The Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Lee’s Tobacco Machinery Company Limited, a UAE and Singapore-based firm, to establish the first machinery manufacturing industry in the BEPZA Economic Zone (EZ). This partnership aims to diversify the product offerings within the zone.
The agreement was signed by Md. Ashraful Kabir, BEPZA’s Member for Investment Promotion, and Li Meng, Chairman of Lee’s Tobacco Machinery Company, with BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman present at the ceremony.
The company plans to invest $8.32 million in the project, which will create 92 local jobs. The factory will focus on manufacturing tobacco and cigarette machinery, marking a new addition to the range of products produced in BEPZA’s Export Processing Zones (EPZs) and Economic Zones (EZs).
During the signing ceremony, Li Meng emphasized the potential of BEPZA and urged other investors to consider the EPZs and EZs for their projects. He also committed to transferring specialized machinery production knowledge to Bangladeshi workers, helping to develop a skilled workforce in this new sector.
Li further revealed plans to establish two additional industries within BEPZA’s EZ in the near future, which would further strengthen the industrial capabilities of the zone.
BEPZA Executive Chairman Ziaur Rahman expressed gratitude to Lee’s Tobacco Machinery Company for choosing the BEPZA EZ for their investment and assured full support to ensure the smooth operation of their business.