Dhaka: The Bangladesh Export Processing Zones Authority (BEPZA) has signed land lease agreements with two fully foreign-owned companies to establish new industrial units at the BEPZA Economic Zone (EZ). The companies will invest US$ 70.66 million in light engineering and garment accessories manufacturing, creating employment opportunities for 1,105 Bangladeshi nationals and contributing to the country’s industrial diversification and economic growth, said a press release.
According to Bangladesh Sangbad Sangstha, the agreements were signed at the BEPZA Complex in Dhaka between BEPZA and DJ Copper Co., Ltd. and GRX Technology (BD) Co., Ltd. Md. Ashraful Kabir, Member (Investment Promotion), signed on behalf of BEPZA, while Zhang Na, Managing Director of GRX Technology (BD) Co., Ltd., and Zhang Junfeng, Managing Director of DJ Copper Co., Ltd., signed for their respective companies. The signing ceremony was witnessed by BEPZA Executive Chairman Major General Mohammad Moazzem Hossain.
During the ceremony, the Executive Chairman expressed gratitude towards the investors for selecting Bangladesh, and specifically the BEPZA Economic Zone, as their investment destination. He emphasized BEPZA’s global reputation for offering a secure, business-friendly, and efficient investment environment. The Chairman highlighted that foreign investors, particularly from China, continue to exhibit strong confidence in BEPZA due to the longstanding bilateral relationship and consistent service standards.
The Executive Chairman urged the companies to commence construction promptly, leveraging the current dry season, and assured them of BEPZA’s full cooperation and support in all investment-related matters. Under the agreement, DJ Copper Co., Ltd., a Hong Kong-China owned company, will invest US$ 50.66 million to manufacture a variety of light engineering and copper-based products such as copper wire, copper sheet, copper hardware, and electronic accessories. The company plans to develop its factory on 21,600 sqm of allotted land and employ 535 Bangladeshi workers.
Meanwhile, GRX Technology (BD) Co. Ltd., also owned by Hong Kong-China investors, will invest US$ 20 million in garment accessories manufacturing, including zippers and various sliders. Their factory will be constructed on 14,400 sqm of land and will employ 570 Bangladeshi workers. The signing ceremony was attended by key BEPZA officials and company representatives.