28 firms set to invest $1.3b in three economic zones

Twenty-eight companies, including Walton, have got the nod from the authorities concerned to invest a total of $1.3 billion in Bangabandhu Sheikh Mujib Industrial City, Jamalpur Economic Zone, and Sabrang Tourism Park.

The Bangladesh Economic Zone Authority (Beza) on Thursday also allotted 363.53 acres of land to these firms.

Beza said the approved investment by the 28 companies would create 36,000 jobs.

Beza Executive Chairman Sheikh Yusuf Harun said land lease agreements would be signed with these companies soon.

The proposed investments would help diversify the country's export basket, he expected, adding that this would also help the country achieve sustainable development goals (SDGs) alongside increasing the living standards of the people.

According to sources, among the approved companies, Walton Hitech Industries Limited, RHPL Health of India, Abdul Monem Economic Zone Limited, Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), KIAM Metal Industries Ltd, Healthcare Pharmaceuticals Ltd, Fakir Knitwear Ltd, and Israq Spinning Mills Ltd will invest in Bangbandhu Industrial City.

Of them, the electronic giant Walton alone will invest $640 million as it has been allotted 100 acres of land.

The company will manufacture electronics products, including refrigerators, televisions, and air conditioners, at the plant, officials said.

An official of Walton told The Business Standard that the company has taken up an initiative to set up a factory in Mirsarai Economic Zone to facilitate the delivery of goods to Chattogram port for export.

Seven companies are going to invest in Sabran Tourism Park and among them Dird Group and Ifad Group will invest in the hotel and tourism sector.

Akij Textile Mills Ltd and Fervent Multiboard Industries Ltd, a subsidiary of Walton Group, are among the six investment proposals in the Jamalpur Economic Zone.