Bangladeshi company Ecolet (Pvt.) Limited will invest US$15.91 million to establish an LED products manufacturing facility at BEPZA Economic Zone-1 in Mirsharai, Chattogram, marking a step towards diversifying the country’s export basket beyond traditional garments.
The company will manufacture 6 million pieces of LED bulbs, lamps and decorative lights annually for export to major international markets, including the USA, UK, European Union and the Middle East. The project is expected to create employment for 306 Bangladeshi nationals.
The agreement was signed on Thursday at the BEPZA Complex in Dhaka. BEPZA Member (Investment Promotion) Md Tanvir Hossain signed on behalf of the authority, while Ecolet Managing Director Mohammad Soliman signed for his company, said a press release.
BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing.
Welcoming the investment, the Executive Chairman said the inclusion of LED products would add a new dimension to BEPZA’s ongoing efforts towards product and export diversification.
“BEPZA is working to diversify its product basket by attracting investment in sectors beyond traditional export products,” he said.
The project will bring technology-oriented electrical and electronics manufacturing to the BEPZA Economic Zone, contributing to the expansion of Bangladesh’s export product portfolio.
Senior BEPZA officials and representatives of Ecolet attended the signing ceremony.
