BEPZA inks $111m deals with 4 firms for EZ investment

The agreements, signed today at the BEPZA Complex in Dhaka, represent a total proposed investment of US$ 111.26 million, creating employment opportunities for some 7,607 Bangladeshi nationals, said a press release. 

Of the four investors, three are fully foreign-owned-from China, Singapore, and a China-Singapore joint ownership-while one is a Bangladeshi company. The new ventures will operate in footwear, leather processing, testing services, and garment accessories sectors.

Among the signatories, the largest investment comes from Tai Ma Shoes (BD) Co., Ltd., a Chinese company, which will invest US$55.05 million to establish a footwear manufacturing industry. The factory will produce 7 million pairs of formal and casual shoes annually and create 5,900 jobs.

Bangladesh Songshin Leather Co., Ltd., a Singaporean company, will invest US$ 25.03 million to set up a leather processing factory. The company will produce 36 million square feet of finished leather annually from crust leather and create employment opportunities for 480 Bangladeshi nationals.

Annray Holding (BD) Co., Ltd., a China-Singapore jointly owned company, will invest US$ 20.03 million to establish a service-oriented testing laboratory, offering finished product and raw material testing facilities to industries across Bangladesh, particularly those in BEPZA EZ. The company will employ 770 personnel in this testing facility.

Wraptox Industries Limited, a Bangladeshi company, will invest US$ 11.15 million to produce garment accessories such as labels, tags, tapes, and printing and packaging materials, with an annual production target of 20,000 metric tons, creating 457 jobs.

Md. Ashraful Kabir, Member (Investment Promotion), signed the agreements on behalf of BEPZA, while 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 Limited, signed on behalf of their respective companies.

BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony as the chief guest. 

Congratulating the new investors, the Executive Chairman thanked them for choosing BEPZA Economic Zone as their investment destination. He reaffirmed BEPZA's round-the-clock commitment to facilitating smooth business operations, backed by a dedicated and sincere workforce.

He also mentioned that BEPZA is continuously modernizing its service delivery system to ensure the highest level of investor satisfaction. The Chairman encouraged the companies to commence construction works promptly and begin export operations at the earliest. He further invited the investors to encourage their peers, particularly in the electronics sector, to explore investment opportunities in Bangladesh.

Md. Ashraful Kabir, Member (Investment Promotion) of BEPZA, called upon Chinese investors to consider new investment opportunities in BEPZA's upcoming EPZs in Jashore and Patuakhali, which are being developed as next-generation industrial hubs.

Speaking at the event, Jc, Chairman of Song Shin Group Pte. Ltd., expressed satisfaction with BEPZA's services and business-friendly environment. "I think BEPZA EZ is our good choice. We look forward to growing together." he said.

The signing ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Lt. Col. Mohammad Arifur Rahaman, Executive Director (Security); Samir Biswas, Executive Director (Admin); and A.S.M. Anwar Parvez, Executive Director (Public Relations), along with senior officials of BEPZA and representatives of the four companies, reports BSS.