Chinese company to invest $109m in BEPZA EZ

Chinese company Alpen Banyan Garments BD Co Ltd has signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to invest US$108.99 million in the BEPZA Economic Zone (BEPZA EZ).

The company will set up a garment manufacturing factory on 9000 square meters of land where 43 million pieces of Woven and Knit garments will be produced annually, reports BSS citing a press release.

The company will create employment opportunities for 11,995 Bangladeshi nationals when it comes into operation in full swing.

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 organisations at the BEPZA Complex in the city.

It would be the highest amount of proposed investment ever from a single company that signed agreements to establish industries in BEPZA EZ.

BEPZA Executive Chairman thanked Alpen Banyan Garments for choosing BEPZA EZ as their investment destination.

He said that BEPZA welcomes investment from all sectors including RMG and Textile but encourages more investment in diversified sectors like Automobile, Electronics and Electrical, IT products etc.

Mentionable, BEPZA gets positive responses from investors from home and abroad to invest in BEPZA EZ, the largest venture of BEPZA located at 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 companies of BEPZA EZ have already started their commercial production while three more companies are expected to make their first export by this year.

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 along with the representatives of the company were present during the signing ceremony.