The Bangladesh Export Processing Zones Authority (BEPZA) and the Chinese business Alpen Banyan Garments BD Co. Ltd. today inked a deal for the Chinese company to invest US$ 108.99 million in the BEPZA Economic Zone (BEPZA EZ).
According to a news statement, the company plans to build a garment manufacturing facility on 90,000 square meters of land, with the capacity to create 43 million pieces of knit and woven clothing yearly.
When the business launches into full operation, 11,995 citizens of Bangladesh will have new job prospects.
In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, Member (Investment Promotion) of BEPZA Md. Ashraful Kabir and Director of Alpen Banyan Garments BD Co. Ltd. Li, Tianning signed the agreement on behalf of their respective organizations at BEPZA Complex in the city.
In signing agreements to build industries in BEPZA EZ, this corporation would be proposing the largest investment amount ever.
The Executive Chairman of BEPZA expressed gratitude to Alpen Banyan Garments for selecting BEPZA EZ as the location of their investment. According to him, BEPZA encourages investment in a variety of industries, including as IT products, automobiles, electronics, and textiles, but it also welcomes participation from RMG and the textile sector.
Notably, BEPZA receives encouraging feedback from domestic and international investors who wish to participate in BEPZA EZ, the company’s largest project, which is situated in Mirsharai, Chattogram.
A total of 29 companies, including Alpen Banyan Garments, signed agreements to invest in the BEPZA EZ with a total proposed investment of USD 688 million.
In addition to the ready-made garments and textiles, these lease companies are supposed to produce diversified products such as footwear and footwear accessories, tents and camping equipment, hair care products and accessories, lubricating oil, disposable cutlery, etc.
Three BEPZA EZ firms have begun commercial production, and three more are anticipated to export for the first time this year.
The company representatives were present at the signing ceremony, along with Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam, Executive Director (Public Relations) A.S.M Anwar Parvez, and Executive Director (Investment Promotion-Addl. Charge) Fazlul Haque Mazumder.
