Chinese company signs agreement to invest in BEPZA Economic Zone
Diplomatic Correspondent
(BD) Ltd., a Chinese-owned company, signed an agreement on Thursday with the Bangladesh Export Processing Zones Authority (BEPZA) to invest US$ 19.72 million in establishing a high-end garments manufacturing facility at the BEPZA Economic Zone (BEPZA EZ) in Mirsharai, Chattogram.
Member (Investment Promotion) Md. Ashraful Kabir signed on behalf of BEPZA, while Managing Director of October4128 (BD) Ltd Mohammed Taufikul Ahsan represented the company.
The agreement was signed at the BEPZA Complex in Dhaka in the presence of Executive Chairman of BEPZA Major General Mohammad Moazzem Hossain, according to a press release.
The factory will produce 3 million pieces annually of ski, snow sports, hunting and motor rider’s gear, insulated winter coats, down jackets and pants, rain gear, workwear, running wear, yoga wear, and water sportswear.
The investment is expected to create employment for 2,788 Bangladeshi nationals.
Major General Moazzem Hossain thanked the company for choosing BEPZA EZ and assured full support for their operations.
With this agreement, a total of 49 companies have now committed to invest approximately US$ 1.08 billion in BEPZA EZ.
Six companies have already commenced production, reinforcing BEPZA EZ’s reputation as a prime destination for both local and foreign investors.
The signing ceremony was also attended by key BEPZA officials and representatives from October4128 (BD) Ltd.
