Chinese company Adeline Beauty Technology Bangladesh Co Ltd will invest $22 million to establish a fashion and beauty products manufacturing plant at the BEPZA Economic Zone, aiming to expand Bangladesh’s export diversification.
The company signed a land lease agreement with Bangladesh Export Processing Zones Authority at the BEPZA Complex in Dhaka on 4 March, according to a press release.
The project is expected to create employment for about 4,170 Bangladeshi nationals once the factory begins operations.
Adeline Beauty Technology Bangladesh Co Ltd will manufacture fashion hair and beauty products including wigs, eyelashes and cosmetic nails mainly for export to markets such as the US, Canada, the UK, Germany, France, Spain, Italy, the UAE, Russia and Mexico.
The agreement was signed by Bangladesh Export Processing Zones Authority Executive Director Investment Promotion Md Tanvir Hossain and Adeline Beauty Technology Bangladesh Co Ltd Managing Director Hang Sun.
Bangladesh Export Processing Zones Authority Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.
He thanked the company for selecting the BEPZA Economic Zone for investment and reaffirmed the authority’s commitment to ensuring a secure and business-friendly environment for investors.
He also encouraged further Chinese investment in diversified and value-added sectors.
Among others present were Bangladesh Export Processing Zones Authority Member Engineering Abdullah Al Mamun, Member Finance A N M Foyzul Haque, Executive Director Administration Samir Biswas, Executive Director Enterprise Services Md Khorshid Alam and Executive Director Public Relations ASM Anwar Parvez.
