Tianford Bangladesh Textile Co Ltd, a China (Hong Kong) based company, is set to establish a Ready Made Garments (RMG) manufacturing industry at the Uttara EPZ with an investment of $19.59 million.
The company signed a land lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) on Sunday at the BEPZA Complex in Dhaka.
This new venture is expected to create employment opportunities for 3,254 Bangladeshi nationals.
Md Tanvir Hossain, executive director (Investment Promotion) of BEPZA, and Ge Zhenyu, nominee director of Tianford Bangladesh Textile Co Ltd, signed the agreement on behalf of their respective organisations.
The signing ceremony was witnessed by the BEPZA Executive Chairman, Major General Mohammad Moazzem Hossain.
The proposed factory will be constructed on 24,000 square metres of land. With an annual production capacity of 7 million pieces, the plant will manufacture a wide range of woven and knit garments, including bottoms, tops, shirts, jeans, jackets, T-shirts, polo shirts, sportswear, sweaters, hoodies, and all kinds of jersey.
The finished products will be exported to major international markets, including the USA, Canada, Japan, China, Australia, Brazil, the UK, and European countries.
Welcoming the investor, the executive chairman reaffirmed BEPZA’s commitment to providing seamless services and a business-friendly environment.
He noted that the new government has assumed office with a strong focus on promoting investment and prioritising the needs of investors.
The executive chairman further emphasised BEPZA’s dedication to delivering efficient and modern services while encouraging the company to explore sourcing quality raw materials locally to bolster domestic industries.
Ge Zhenyu expressed his confidence in Bangladesh as an increasingly attractive destination for global investors. He informed the ceremony that construction of the factory will commence in April this year, with the company expecting to start exporting products by next year.
The ceremony was attended by Abdullah Al Mamun, member (Engineering); A N M Foyzul Haque, member (Finance); Samir Biswas, executive director (Administration); and ASM Anwar Parvez, executive director (Public Relations), along with other senior officials from BEPZA and Tianford.
