Economic Reporter :
Arman Haque Denim Limited is likely to be the first industry to start its operation in the Mirsarai Economic Zone (MEZ) as the company has already laid foundation stone for the construction of its factory in the zone to go into operation in December.
“We have set a plan to start our operation from December 2019. The land allotment for the Arman Haque Denim was one of the first allotments in the economic zone. So, we want to start our operation as the first industry of the zone,” Managing Director of the Arman Haque Denim SNR Tawfiq said.
He said if everything happens as per the plan, the construction works will start in March.
“The industry will ensure internationally compliant green Global Composite Denim production facility. It will produce almost 10.8 million meters of assorted denim fabric per year,” he added.
He said the industry will be set up on 10 acres of land with an investment of around Taka 300 crore to meet the increasing demand of denim products in European countries and the USA.
Tawfiq said the main objective of the industry is to uplift the status of denim production in terms of production capacity, distinctive and innovative endeavor to strength the overall position of textiles and RMG sector of the country.
“To flourish its position in the global market, the project aims on to reduce the import dependency and improve the local backward and forward linkage,” he added.
He informed that the global demand for denim clothing has been increasing at an annual rate of 9 percent while in the USA, almost 70 percent of the population wear denim products regularly.
“Currently, Bangladesh alone has 30 denim mills involving a financial outlay of about US$1 billion. The country has overtaken China to become the number one denim goods supplier to the countries of the European Union,” he added.
In the US market, he said, Bangladesh now stands at the third position after China and Mexico.
Hoping that the Mirsarai Economic Zone will be an investment hub in the country, Tawfiq said “We have selected the zone for the industry as the zone is one of the most suitable sites in the country along the strategic Dhaka-Chittagong industrial corridor.”
Because of its strategic location, he said, the zone has the potential to become the most successful industrial hub of the country.
Bangladesh Economic Zone Authority (BEZA) is developing an industrial city adjoining Mirsarai, Feni and Sitakunda Economic Zones, titled ‘Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN)’to assist, encourage and facilitate investment from both home and abroad.
The city will ensure utilities and stability. With a large number of RMG factories being set up in the zone, it will provide a ready market at close proximity of Arman Haque Denims.
The Shilpa Nagar is providing tax incentives and allowances that increase the viability of the project in line with the current government policies to promote the country’s exports.
BSMSN, the first planned city of the country, will pave the way for establishing a truly world-class business and industrial center. For BSMSN, BEZA would like to build strong partnership with the private sector and local entrepreneurs.
Arman Haque Denim Limited is likely to be the first industry to start its operation in the Mirsarai Economic Zone (MEZ) as the company has already laid foundation stone for the construction of its factory in the zone to go into operation in December.
“We have set a plan to start our operation from December 2019. The land allotment for the Arman Haque Denim was one of the first allotments in the economic zone. So, we want to start our operation as the first industry of the zone,” Managing Director of the Arman Haque Denim SNR Tawfiq said.
He said if everything happens as per the plan, the construction works will start in March.
“The industry will ensure internationally compliant green Global Composite Denim production facility. It will produce almost 10.8 million meters of assorted denim fabric per year,” he added.
He said the industry will be set up on 10 acres of land with an investment of around Taka 300 crore to meet the increasing demand of denim products in European countries and the USA.
Tawfiq said the main objective of the industry is to uplift the status of denim production in terms of production capacity, distinctive and innovative endeavor to strength the overall position of textiles and RMG sector of the country.
“To flourish its position in the global market, the project aims on to reduce the import dependency and improve the local backward and forward linkage,” he added.
He informed that the global demand for denim clothing has been increasing at an annual rate of 9 percent while in the USA, almost 70 percent of the population wear denim products regularly.
“Currently, Bangladesh alone has 30 denim mills involving a financial outlay of about US$1 billion. The country has overtaken China to become the number one denim goods supplier to the countries of the European Union,” he added.
In the US market, he said, Bangladesh now stands at the third position after China and Mexico.
Hoping that the Mirsarai Economic Zone will be an investment hub in the country, Tawfiq said “We have selected the zone for the industry as the zone is one of the most suitable sites in the country along the strategic Dhaka-Chittagong industrial corridor.”
Because of its strategic location, he said, the zone has the potential to become the most successful industrial hub of the country.
Bangladesh Economic Zone Authority (BEZA) is developing an industrial city adjoining Mirsarai, Feni and Sitakunda Economic Zones, titled ‘Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN)’to assist, encourage and facilitate investment from both home and abroad.
The city will ensure utilities and stability. With a large number of RMG factories being set up in the zone, it will provide a ready market at close proximity of Arman Haque Denims.
The Shilpa Nagar is providing tax incentives and allowances that increase the viability of the project in line with the current government policies to promote the country’s exports.
BSMSN, the first planned city of the country, will pave the way for establishing a truly world-class business and industrial center. For BSMSN, BEZA would like to build strong partnership with the private sector and local entrepreneurs.
