Samsung opening electronics plant in Bangladesh

Top global electronics brand Samsung is opening a manufacturing plant in Narsingdi to provide customers in Bangladesh with products at cheaper prices.

Fair Electronics Limited has partnered with Samsung in the initiative.

Industries Minister Amir Hossain Amu unveiled the foundation stones of the 16-acre plant at Kamargaon in Shibpur Upazila on Thursday.

The South Korean firm will provide technological help to manufacture the products.

The plant is expected to produce 400,000 refrigerators, 250,000 microwave ovens, 120,000 air-conditioners, 200,000 TVs and 50,000 washing machines annually.

After unveiling the foundation stone, Amu said, “The establishment of this plant by world renowned Samsung proves that there is a good investment condition in Bangladesh.”

The minister said $100 million is being invested in the plant and it will generate 3,000 jobs.

“Bangladeshi customers will be able to buy Samsung products at cheaper rates,” he said.

Many hope the plant will encourage more investments in Bangladesh.

“Such investments will bring Bangladesh the status of a developed country before 2041,” the minister said.

State Minister for ICT Zunaid Ahmed Palak has announced that this will be the first private high-tech park in the country.

Samsung Electronics Bangladesh Managing Director Seungwon Youn said the plant will play a key role in creating jobs, raising revenue, and development of business in Bangladesh.

Fair Electronics Managing Director Ruhul Alam Al Mahbub said it would be the ‘largest’ technology-based industrial plant in the country.

State Minister for Water Resources Muhammad Nazrul Islam, BTRC Chairman Shahjahan Mahmood, South Korean Ambassador Ahn Seong-doo, among others, were present.