Bangladeshi firm Ecolet (Pvt) is set to invest $15.91 million in establishing a manufacturing plant for LED (light-emitting diode) products at BEPZA Economic Zone-1 in Mirsharai, Chattogram. This move will introduce a new product category to the export processing zone’s offerings.
The plant aims to produce six million LED bulbs, lamps, and decorative lights annually for export to the US, UK, European Union, and Middle East markets. It is anticipated that this project will generate employment opportunities for 306 Bangladeshi nationals.
Ecolet has formally entered into an agreement with BEPZA at the BEPZA Complex in Dhaka to commence this venture. This investment aligns with the strategic direction of the Bangladesh Export Processing Zones Authority (BEPZA) to diversify its export portfolio by attracting investments in high-value, technology-driven manufacturing segments alongside the traditional export sectors.
Tanvir Hossain, representing BEPZA, and Mohammad Soliman, the managing director of Ecolet, signed the agreement in the presence of BEPZA Executive Chairman Major General Mohammad Moazzem Hossain.
Expressing satisfaction with the investment, Hossain emphasized BEPZA’s commitment to broadening its product range by luring investments in non-traditional export sectors. He highlighted the significance of including LED products, stating that it will enhance ongoing efforts to diversify products and exports.
This initiative is expected to introduce technology-driven electrical and electronics manufacturing to the zone, thereby enhancing the country’s export product range.
