A Chinese accessories maker will invest $16.34 million to set up a manufacturing plant at an economic zone (EZ) of the Bangladesh Export Processing Zones Authority (BEPZA) in Mirsharai, Chattogram.
BEPZA sources close to the development informed that the new unit would create 1,395 job opportunities once commercial operations begin.
To this end, Huaju Accessories Co Ltd signed a land lease agreement with BEPZA at its headquarters in Dhaka on 26 January, as per an official statement issued by the investment promotion agency on Tuesday.
The factory will produce bra cups, bra wire, hook and eye, webbing tape, elastic, drawstring, slider, snap button, logo, bag and luggage hardware, and rib.
Also, the unit will likely target an annual production of 4 million kilogrammes, BEPZA said.
Md Tanvir Hossain, executive director (investment promotion), signed the agreement for BEPZA while Yang Yanmei, managing director of Huaju Accessories Co, signed for his company.
BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing, where he reiterated the authority’s commitment to facilitate foreign direct investment, the statement said.
