The Bangladesh Export Processing Zones Authority (BEPZA) has secured a new foreign investment of $24.03 million in diversified product manufacturing at the BEPZA Economic Zone.
A land lease agreement was signed between BEPZA and South Korean company PH Creative (BD) Ltd on Sunday at the BEPZA Complex in Dhaka to establish a manufacturing industry producing tents, camping items, garment accessories, bags, and luggage,
Executive Director (Investment Promotion) of BEPZA Md Tanvir Hossain and Chairman of PH Creative (BD) Ltd Jin Ho Bae signed the agreement on behalf of their respective organisations.
Executive Chairman of BEPZA Mohammad Moazzem Hossain witnessed the signing ceremony.
The company will manufacture a wide range of products, including steel, aluminium and iron frames, fiberglass poles, tents, sleeping bags, camping chairs, and various tent accessories such as PVC wear covers, caps, chair patches, hangers, and hammers.
The project will also produce trolley bags, handbags, and garment accessories including toggles and beads, and is expected to create employment for approximately 2,000 Bangladeshi nationals.
Speaking at the event, the BEPZA executive chairman thanked PH Creative (BD) Ltd for choosing Bangladesh, particularly the BEPZA Economic Zone, as their investment destination. He also encouraged the company and other South Korean investors to explore further investment opportunities in high-tech sectors, especially in semiconductors and electronic products.
Senior BEPZA officials and company representatives attended the ceremony.
