DHAKA, Feb 3, 2025 (BSS) - In a significant move to diversify the range of products, Bangladesh Export Processing Zones Authority (BEPZA) has signed a lease agreement with Lee’s Tobacco Machinery Company Limited, a UAE and Singapore-owned company. 

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, said a press release.

Member (Investment Promotion) of BEPZA Ashraful Kabir and Chairman of Lee’s Tobacco Machinery Company Limited Li Meng signed the agreement today. 

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman and senior officials of BEPZA and Lee’s Tobacco were present.

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 EZ under BEPZA, the press release said. 

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

“We look forward to welcome further investments in other machinery production industries that can facilitate the growth of other export-oriented sectors,” he said.

The Executive Chairman also encouraged Lee’s Tobacco’s Chairman to serve as a brand ambassador for Bangladesh’s EPZs, helping attract even more international investors to the country.

Li Meng expressed his commitment to focusing on BEPZA’s potential and encouraging other investors to consider the EPZs and EZ under BEPZA. 

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

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.