The Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Lee’s Tobacco Machinery Company Limited, a UAE and Singapore-owned company, a move to diversify the range of products.

This agreement marks the establishment of the first machinery manufacturing industry in the BEPZA Economic Zone (EZ), further enhancing the zone’s diverse product line, according to a press release.

Md. Ashraful Kabir, Member, investment promotion of BEPZA, and Li Meng, Chairman of Lee’s Tobacco Machinery Company Limited, signed an agreement in presence of BEPZA Executive Chairman, Major General Abul Kalam Mohammad Ziaur Rahman ndc, psc.

The company plans to invest US$ 8.32 million in the project, which will create employment opportunities for 92 Bangladeshi nationals. The factory will produce tobacco and cigarette machinery, a new and diversified product to be manufactured in the EPZs and EZs under BEPZA.

Speaking at the signing ceremony, the Chairman of Lee’s Tobacco Machinery Li Meng, expressed his commitment to focusing on BEPZA’s potential and encouraging other investors to consider the EPZs and EZs.

He assured BEPZA of his company’s dedication to transferring specialized knowledge and expertise in machinery production to Bangladeshi workers.

BEPZA attracted 29 percent of total FDI last fiscal year, says its Chairman

“It will help build a skilled workforce capable of producing machinery that is new to the country’s industrial landscape,” he added.

Li also shared plans to establish two more industries in the BEPZA EZ in the near future, further enhancing the zone’s industrial capabilities.

BEPZA Executive Chairman Ziaur Rahman thanked Lee’s Tobacco Machinery Company Limited for choosing BEPZA’s EZ as their investment destination and assured them of all necessary support to ensure smooth operations.