Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
South Korean company M/s Hwashin (BD) Limited will invest US$ 6 million to establish a Cosmetics Accessories industry in Mongla Export Processing Zone.
An agreement in this regard has been signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s Hwashin (BD) Limited at BEPZA Complex in the capital today (Monday).
The fully foreign-owned company will annually produce 300 million pieces of makeup brush, makeup sponge, cosmetics box, cosmetics container, mirror, cosmetics bag, nail clippers, nail polishing paper, tweezers, eyelash curler and other accessories, according to a press statement.
The factory will create employment opportunity for 1480 Bangladeshi nationals, the statement added.
Zillur Rahman, Member (Investment Promotion) of BEPZA and Kim Jongbo, Managing Director of M/s Hwashin (BD) Limited signed the agreement on behalf of their respective organisations.
Major General S M Salahuddin Islam, BP, SPP, ndc, psc, Executive Chairman, Mohammad Faruque Alam, Member (Engineering), Nazma Binte Alamgir, General Manager (Public Relations), Md Tanvir Hossain, General Manager (Investment Promotion) and Abdullah Al Mahbub, Deputy General Manager (Investment Promotion) of BEPZA were also present at the signing ceremony.