Four firms to invest $50m in BEPZA Economic Zone
BEPZA Economic Zone in Mirsharai of Chattogram, for the first time, is set to house four industrial units that will invest an aggregate amount of US$50 million. The investors– three foreign companies and a local one– will manufacture garment, camping and footwear accessories in the industrial park of Mirsharai, generating employment for over 23,000 people. To this effect, the four companies inked land lease agreements with the Bangladesh Export Processing Zone Authority (BEPZA) at a ceremony held at the BEPZA Complex in the city’s Dhanmondi on Saturday.The process of establishing industrial units in the BEPZA Economic Zone (BEPZA EZ) at Bangabandhu Sheikh Mujib Shilpa Nagar starts officially with signing of these agreements.According to investment proposals, Sri Lankan Univogue Garments Company will set up a unit with an investment of US$ 36.49 million to produce woven items. China’s Fengqun Composite Material will establish a shoe accessories factory with an investment of US$ 2.22 million to produce foam, foam PU insole, lamination goods, footwear items and packaging items. Campex (BD) Limited, a USA-owned enterprise, will set up a tent, tent accessories and outdoor garment manufacturing unit with an investment of US$ 10 million. Bangladeshi company TexTrim Labels will set up a garment accessories and paper converting unit investing US$ 1.27 million.
Ecommerce got pandemic boost, still going strong
While the Covid-19 pandemic-induced shutdowns starting in March 2020 brought the economy to a halt, it breathed new life into a slowly growing e-commerce market. Consumers across learned that shopping no longer had to mean going to physical stores. Almost everything was now just a finger tap away. Even after virus fear eased and errant platforms including Evaly, Dhamaka Shopping, Eorange collapsed, online orders are on the rise, while more sellers from diversified backgrounds are going online not to miss the train to the future of retailing.The growing number of e-commerce businesses, the options in their virtual shelves and the base of online buyers has led to the market nearly doubling in two years since the pandemic, according to the E-commerce Association of Bangladesh (e-CAB). Capitalising on the spread of smartphones and strong internet penetration across the country, companies betted that the grounds were ripe for investments.
Berger to be used at airport extension project
Berger Paints Bangladesh has recently signed an agreement with Amin Mohammad Construction on use of its paints and construction chemicals at Hazrat Shahjalal International Airport’s 3rd terminal construction project.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|FTSE100||$ 7,513.62||↓23.75||↓0.32 %|
|Nikkei 225||$ 27,122.07||↓110.80||↓0.41 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 91.07||↓0.69||↓0.75%|
|Crude Oil (Brent)||$ 93.54||↑0.57||↑0.61 %|
|Gold Spot||$ 1,898.43||↑0.00||↑0.00 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 86.00|
|GBP 1||BDT 116.9084|
|EUR 1||BDT 97.3950|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<