Prime Leaf Processing Company Limited, a joint venture between entities from Singapore, the UAE, and India, will invest $8.84 million to establish a tobacco processing factory in the Bangladesh Export Processing Zones Authority (Bepza) Economic Zone (EZ).

The company plans to produce 36,000 tonnes of cut rags and cut rolled expanded stems annually, creating employment opportunities for 100 people.

Meng Li, chairman of Prime Leaf Processing Company Ltd, and Md Ashraful Kabir, member (investment promotion) of Bepza, signed a lease agreement at the Bepza Complex in Dhaka today, according to a press release issued by Bepza.

During the signing ceremony, Maj Gen Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza, expressed gratitude to Prime Leaf Processing for selecting Bangladesh, particularly Bepza EZ, as their investment destination.

Rahman underscored Bepza's commitment to providing world-class support to investors and fostering a secure, business-friendly environment.

"Bepza is proud to host a growing number of foreign investors, and we are excited to see Prime Leaf Processing contribute to the success of Bepza EZ. We invite other global companies to explore the abundant opportunities Bangladesh has to offer," he said.

Meng Li thanked Bepza for its support in setting up the factory and said, "We look forward to starting operations by August 2025, and we are optimistic about the positive impact our investment will have on both the local economy and the workforce."

With this agreement, Bepza EZ has now secured total proposed investments of $926.50 million from 40 companies, highlighting the zone's potential for attracting diverse industries.