Business Desk : dhakamirror.com
CHT Bangladesh, a subsidiary of German textile chemical manufacturer GmbH Group, yesterday inaugurated its first factory, which was set up on 2.2 acres of land at the Meghna Industrial Economic Zone in Sonargaon of Narayanganj.
Industries Minister Nurul Majid Mahmud Humayun inaugurated the factory as chief guest, according to a press release.
“All the sectors are improving due to various initiatives of the current government,” he said.
“It is hoped that foreign companies will increase their investment in the country as the government is giving all kinds of support to this end,” Humayun added.
All types of amenities are available inside the Meghna Industrial Economic Zone and besides, communication is very easy thanks to the nearby Dhaka-Chittagong Highway.
The industries minister then said a large part of Bangladesh’s economy is related to the textile industry and this investment would further improve its productivity.
With trial production having already begun, the factory will go into full production by the end of this month, informed officials of CHT Bangladesh.
Tanjima Binthe Mostafa, director of the Meghna Group of Industries (MGI), said establishing the private economic zone was a significant decision by the government that encouraged foreign investment.
“I would like to thank Prime Minister Sheikh Hasina and the Bangladesh Economic Zones Authority [Beza] for this,” she added.
Mostafa went on to say that private economic zones are playing an important role in the industrialisation of Bangladesh.
Besides, the MGI is encouraging foreign companies to make sustainable and effective investments by ensuring world-class facilities at its economic zones.
A total of 22 industrial establishments of 11 foreign companies, including Australia, Japan, Germany, China, India and Norway, have been established in the economic zone located in Narayanganj.
“If this continuity is maintained, Bangladesh will soon rise to the next stage of the economic index,” she said.
The factory will mainly produce textile dyes and chemicals, an official of CHT Bangladesh told The Daily Star over phone yesterday.
Md Ali Ahsan, an executive member of Beza, Frank Naumann, chairman of CHT Group, Axel Breitling, chief financial officer, Bernhard Hettich, chief technology officer, and Benoit Moutault, managing director (CHT Switzerland AG) and group vice-president (textile) were also present.
