The Bangladesh Export Processing Zones Authority on Monday signed land lease agreements with two fully foreign-owned companies to establish new industrial units at the BEPZA Economic Zone, said a press release.
The companies will invest $70.66 million in light engineering and garment accessories manufacturing, creating employment opportunities for 1,105 Bangladeshi nationals.
In this regard, BEPZA member (investment promotion) Md Ashraful Kabir signed separate deals with GRX Technology (BD) Co, Limited managing director Zhang Na and DJ Copper Co, Limited managing director Zhang Junfeng.
BEPZA executive chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.
He noted that foreign investors, especially from China, continued to place high confidence in BEPZA due to the longstanding bilateral relationship and the authority鈥檚 consistent service standards.
He encouraged the companies to begin construction promptly, taking advantage of the current dry season and assured them of BEPZA鈥檚 full cooperation and seamless support in all investment-related matters.
Under the agreement, DJ Copper, a Hong Kong-China owned company, will invest $50.66 million to manufacture a wide range of light engineering and copper-based products including copper wire, copper sheet, copper hardware, cable lines, cable wire, zipper teeth, brass wire, electronic accessories (switch plates, button logos), etc.
Meanwhile, GRX Technology (BD), also owned by Hong Kong-China investors, will invest $20 million in garment accessories manufacturing such as zipper, YG slider, zinc alloy slider, button, snap button, logo, belt buckles.
The signing ceremony was attended by BEPZA EZ member (engineering) Abdullah Al Mamun, member (finance) ANM Foyzul Haque, executive director (admin) Samir Biswas, project director Mohammad Anamul Haque and executive director (public relations) ASM Anwar Parvez were present.