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Bangladeshi company Ecolet (Pvt) Limited will invest US$15.91 million to establish an LED products manufacturing plant at BEPZA Economic Zone-1 (BEPZA EZ-1) in Mirsharai, Chattogram, further diversifying the country’s export-oriented industrial base.
The plant will produce six million LED bulbs and lamps annually, including decorative lighting products, for export to major international markets such as the United States, the United Kingdom, the European Union and the Middle East.
The project is expected to create employment for 306 Bangladeshi nationals.
An agreement to this effect was signed on Thursday at the BEPZA Complex in Dhaka.
Md Tanvir Hossain, member (Investment Promotion) of the Bangladesh Export Processing Zones Authority (BEPZA), signed the agreement on behalf of BEPZA, while Mohammad Soliman, managing director of Ecolet, signed on behalf of the company.
BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.
Welcoming the investment, Moazzem appreciated Ecolet for undertaking a non-RMG manufacturing project, saying the initiative would contribute to diversifying Bangladesh’s export-oriented industrial base.
He said BEPZA has been working to attract investment in sectors beyond traditional export products and expand the country’s product and export basket.
“The inclusion of LED products will add a new dimension to our ongoing efforts towards product and export diversification,” he said.
According to BEPZA, the project will introduce technology-oriented electrical and electronics manufacturing to the economic zone through the production of LED bulbs and decorative lighting.
The initiative is expected to expand Bangladesh’s export portfolio while creating opportunities for higher-value manufacturing and technology-oriented industrial development.
The investment is also in line with BEPZA’s efforts to promote technology-driven manufacturing alongside traditional export sectors.
The signing ceremony was attended by Abdullah Al Mamun, member (Engineering); ANM Foyzul Haque, member (Finance); Moshiuddin Bin Mesbah, executive director (Enterprise Services); Samir Biswas, executive director (Administration); and ASM Anwar Parvez, executive director (Public Relations), along with senior BEPZA officials and representatives of Ecolet.