BEPZA signs $12 million investment deal with foreign companies

Bangladesh Export Processing Zones Authority (BEPZA) has signed lease agreement with two fully foreign-owned companies on Sunday.

The foreign companies will invest $12 million to establish factories in Chattogram and Mongla EPZ, said a press release.

Including these two, BEPZA has signed investment agreement with 12 companies with total proposed investment of $125.21 million during the current fiscal year 2020-21. 

Under the agreements M/s MAS Sumantra 2 Private Limited, a Singapore-Sri Lanka owned company will establish a garments manufacturing industry in Chattogram EPZ. This company will also invest $7.18 million to produce annually 28.58 million pcs of intimate garments. A total of 2673 Bangladeshi nationals will be employed in this factory.

Besides, another company from South Korea M/s Gabo Global Limited also signed an agreement with BEPZA to set up a Garments and Camping Manufacturing industry in Mongla EPZ. This company will invest $4.85 million to produce 2.3 million pcs of woven garments, knit garments and campaign items per annum. This will create employment opportunity for 1,030 Bangladeshi nationals.

In presence of the Executive Chairman of BEPZA Major General Md Nazrul Islam, SPP, ndu, afwc, psc, G, agreement signing programme was held at BEPZA complex in Dhaka.

Member (Investment Promotion) of BEPZA, Md Mahmudul Hossain Khan and Country Head of MAS Sumantra 2, Mangala Athauda including Managing Director of Gabo Global, Do Kyun Kim inked these agreements on behalf of their respective organisations.

Member, (Engineering) Mohammad Faruque Alam, Member, (Finance) Nafisa Banu, Secretary, Md Zakir Hossain Chowdhury, General Manager, (Public Relations) Nazma Binte Alamgir and General Manager, (Investment Promotion) Md Tanvir Hossain of BEPZA also attended the function, among others.