Chinese company to invest $16.34m in EZ

Business Report :

Huaju Accessories Co. Ltd., a Chinese company, has signed a land lease agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish an accessories manufacturing industry at BEPZA Economic Zone (BEPZA EZ), Mirsharai, Chattogram.

The agreement, involving a proposed investment of US$ 16.34 million, was signed on Monday at the BEPZA Complex in Dhaka. The project is expected to create employment opportunities for 1,395 Bangladeshi nationals, according to a press release.

The company will manufacture a wide range of accessories, including bra cups, bra wire, hook & amp; eye, webbing tape, elastic, drawstring, slider, snap button, logo, bag and luggage hardware and rib with an annual production target of 4 million kilograms.

Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, signed the agreement on behalf of BEPZA, while Yang Yanmei, Managing Director of Huaju Accessories Co. Ltd., signed on behalf of the investing company. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain, ndc, afwc, psc, G, MPhil witnessed the signing ceremony.

Welcoming the investor, the Executive Chairman of BEPZA reaffirmed BEPZA’s commitment to providing seamless facilitation and a supportive, investor-friendly environment to ensure the success of industrial ventures.

The ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Md. Khorshid Alam, Executive Director (Enterprise Services); Samir Biswas, Executive Director (Administration); A.S.M. Anwar Parvez, Executive Director (Public Relations); along with senior officials of BEPZA and representatives of Huaju Accessories Co., Ltd.