DHAKA: The Bangladesh Export Processing Zones Authority (BEPZA) has successfully attracted another substantial foreign investment, as Prime Leaf Processing Company Ltd. becomes the 40th company to sign a lease agreement in the BEPZA Economic Zone (BEPZA EZ). This development underscores the zone's increasing appeal as a destination for international business.
According to Bangladesh Sangbad Sangstha, Prime Leaf Processing, a company with joint ownership from Singapore, the UAE, and India, plans to invest US$ 8.84 million to establish a tobacco processing facility within the BEPZA EZ. The lease agreement was signed at the BEPZA Complex, with Md. Ashraful Kabir, BEPZA's Member for Investment Promotion, and Meng Li, Chairman of Prime Leaf Processing Company Ltd., formalizing the partnership.
The signing ceremony was attended by BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, as well as senior officials and representatives from Prime Leaf Processing. The company aims to produce 36,000 tons of cut rags and cut rolled expanded steam annually, creating job opportunities for 100 Bangladeshi nationals.
This investment is part of BEPZA's ongoing strategy to diversify its industrial base and provide an attractive environment for global investors. The Executive Chairman expressed gratitude to Prime Leaf Processing for choosing Bangladesh and emphasized BEPZA's commitment to delivering world-class support to investors, ensuring a secure and favorable business climate.
"BEPZA is proud to host a growing number of foreign investors, and we are excited to see Prime Leaf Processing contribute to the success of BEPZA EZ. We invite other global companies to explore the abundant opportunities Bangladesh has to offer," he added.
Meng Li, Chairman of Prime Leaf Processing, expressed appreciation for BEPZA's assistance in establishing the company's operations in the zone. He anticipated that production would commence by August 2025, expecting significant positive effects on both the local economy and workforce.
The gathering included senior BEPZA officials such as Member (Engineering) Md. Imtiaz Hossain, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam, and Executive Director (Public Relations) A.S.M Anwar Parvez, alongside representatives from Prime Leaf Processing Company Limited.
With this latest agreement, BEPZA EZ has secured a total proposed investment of US$ 926.50 million from 40 companies, highlighting the zone's capacity to attract a diverse array of industries.