Staff Correspondent

Bangladeshi company M/S CIP Limited is going to set up a bag and luggage manufacturing industry in Mongla Export Processing Zone (EPZ) making an investment of $6.23 million.

The company signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex, Dhaka on Wednesday.

Member (Investment Promotion) of BEPZA Ali Reza Mazid and CIP Limited Chairman M.A Hanif Bhuiyan signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing.

Thanking the CIP Limited for investing in Mongla EPZ, he said that two other luggage and bag manufacturing groups are successfully operating their business in the Mongla EPZ.
He hopes that CIP Limited will also successfully run their business in this EPZ.

Expressing his optimism, CIP Limited Chairman M.A Hanif Bhuiyan said that they will start their commercial production by November 2024 after completing the construction of the factory building within the next 6-8 months.

He added the company would use Mongla port instead of Chattogram port for import–export activities as this will be more cost and time effective for them.

CIP Limited will annually produce 9.5 million pieces of backpack, soft luggage, hard luggage, duffle, trolley, school bag and ladies handbag. As many as 1,550 Bangladeshi people are expected to get employment in the company.

The signing was also attended, among others, by CIP Ltd Executive Director (Administration) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain and Executive Director (Public Relations) A.S.M. Anwar Parvez.

Investors are increasingly showing interest in Mongla EPZ after the launch of the Padma Bridge. The EPZ has also got a reputation for its vibrant operations.

Currently, 31 industries are operating their business in Mongla EPZ where 15,062 people of the country are employed.