The Bangladesh Export Processing Zones Authority (BEPZA) has secured $480 million in investment commitments from 32 local and foreign companies in the current fiscal year up to 13 May, reaffirming its central role in the country’s industrial development.

BEPZA said in a statement that the investments are directed toward enterprises in Bangladesh’s Export Processing Zones (EPZs) and the BEPZA Economic Zone (EZ).

As part of this drive, BEPZA on Tuesday signed a lease agreement with Chinese firm Qingdao Dongfang Packaging Technology Limited to set up a packaging and accessories manufacturing facility in Ishwardi EPZ.

The signing ceremony was held at the BEPZA Complex in Dhaka, and BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present.

Md Ashraful Kabir, BEPZA’s member for investment promotion, and Song Shiliang, chairman of Qingdao Dongfang, signed the agreement on behalf of their respective organisations.

Qingdao Dongfang will invest $4.5 million to produce 5.25 million dozen poly bags, hang tags, and paper tags annually. The factory is expected to employ 240 Bangladeshi workers.

Speaking at the event, Major General Ziaur Rahman thanked the Chinese firm for choosing Ishwardi EPZ and reiterated BEPZA’s commitment to offering a secure and investor-friendly environment.

He also encouraged Qingdao Dongfang and other Chinese investors to explore opportunities across more sectors in Bangladesh.