Singer has already started constructing its infrastructure at the zone, while an agreement has also been signed with German company Rudolf. Singer would initially invest $79 million while chemical company Rudolf would make an initial investment of $7 million, Bangladeshi media reported.
The Bangladesh Special Economic Zone or Japanese Economic Zone formally opens today and is likely to attract investment from Japan and other nations. Prime Minister Sheikh Hasina has inaugurated it at Araihazar in Narayanganj. Many Japanese investors will sign agreements, executive chairman of Bangladesh Economic Zones Authority Shaikh Yusuf Harun said.
Thirty more Japanese firms and 10 firms from other nations have also shown interest to invest in the zone.
A proposal is also awaiting nod from the Cabinet Committee on Economic Affairs for setting up another special economic zone dedicated to Chinese investors.
Fibre2Fashion News Desk (DS)
