Bangladesh Special Economic Zone (BSEZ) has attracted eight investors, with Singer Bangladesh Ltd already in trial production, announced Managing Director Taro Kawachi. At a memorandum of understanding (MoU) signing ceremony between the Bangladesh Economic Zone Authority (BEZA), BSEZ, Sumitomo Corporation, and BRAC in Dhaka on June 4, Kawachi stated, “Four of the eight companies that have invested are from Japan. Talks are underway with 6-8 more companies.”
Although the total investment proposals remain confidential, BEZAa sources revealed that Singer Bangladesh Ltd will invest $78 million in a joint venture with Turkish company Arçelik. Land allocations include 33.4 acres for Singer Bangladesh Ltd, 5 acres for Rudolf GmbH (Germany), 8.4 acres for Lion Corporation (Japan), 5 acres for Onoda (Japan), and 3.2 acres for NICCA Chemical Co Ltd (Japan).
The MoU focuses on providing technical and vocational training, establishing educational facilities, and offering financial and integrated services to residents and workers in the zone. The BSEZ, a joint project between Bangladesh and Japan, spans 1,000 acres in Araihazar upazila of Narayanganj. Beza Executive Chairman Shaikh Yusuf Harun expects $1.5 billion in investments and employment for 100,000 people.
Photo Courtesy by : The Business Standard
Comment here