Business Report :
Chinese investor Kaixi Group is expanding its footprint in Bangladesh, signing a US$40.05 million investment deal on Monday to set up an intimate garments and accessories manufacturing plant in the BEPZA Economic Zone (BEPZA EZ). The agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Kaixi Garments Bangladesh Ltd, a concern of Kaixi Group, at BEPZA Complex in the capital.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc witnessed the signing ceremony. Member (Investment Promotion) of BEPZA Md. Ashraful Kabir and Chairman of Kaixi Garments Bangladesh Ltd. Xiao Hongxi signed the agreement on behalf of their respective organisations.
Under this new project, the company will produce 18 million pairs of lingerie and undergarments and 20 million pairs of bra foam and bra cups annually, creating jobs for 3,003 Bangladeshi nationals, says a press release.
