BSK Bangladesh Ltd, a Netherlands-Bangladesh joint venture, is set to establish a bag manufacturing industry in Cumilla EPZ with an investment of $6.14 million. This initiative aims to produce 3 million pieces of handbags, backpacks, travel bags, wallets, and trolley bags annually, creating job opportunities for 1,032 Bangladeshi nationals, as stated in a press release issued today (17 April).

The agreement was signed between the Bangladesh Export Processing Zones Authority (Bepza) and BSK Bangladesh Ltd. at Bepza Complex, Dhaka. The ceremony was attended by Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Member (Investment Promotion) of Bepza Ali Reza Mazid, and Chairman of BSK Bangladesh Ltd. Jeroen Herms.

This substantial investment is poised to positively impact Bangladesh’s economy by enhancing the manufacturing sector and creating significant employment opportunities. It demonstrates confidence in Bangladesh’s investment climate, which could attract further foreign direct investment (FDI).

The influx of foreign investment is crucial for the country’s economic growth, especially as Bangladesh prepares for its graduation from Least Developed Country (LDC) status. To capitalize on this momentum, Bangladesh can focus on improving infrastructure, streamlining regulatory processes, and offering incentives to attract more investors, thereby boosting the country’s export capabilities and global trade presence.

Source: Ministry of Foreign Affairs, Bangladesh