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Journey Outdoors Bangladesh Co. Ltd., a company backed by investors from Singapore and China, has become the 50th company to sign a lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) in order to establish a high-end garment and outdoor products manufacturing industry in the country.
This deal marks a significant milestone in BEPZA's ongoing efforts to attract foreign investment and strengthen the zone's growing reputation as a key destination for global business ventures, says a press release.
The company is set to invest US$ 27.57 million in setting up the manufacturing facility in BEPZA's Economic Zone (BEPZA EZ) at Mirsharai in Chattogram.
The company plans to produce high-end apparel and outdoor products, including underwear, T-shirts, jackets, ski suits, tents, backpacks, and many more, totalling an impressive 16 million pieces annually.
The project is expected to generate 3,467 jobs for Bangladeshi nationals, contributing to local employment and skill development.
The lease agreement was signed by Md. Ashraful Kabir, Member (Investment Promotion) of BEPZA, and Han JunXiao, Managing Director of Journey Outdoors, at the BEPZA Complex in Dhaka on Tuesday. BEPZA Executive Chairman Maj Gen Mohammad Moazzem Hossain witnessed the signing ceremony.
In his remarks, BEPZA Executive Chairman Maj Gen Moazzem Hossain expressed gratitude to Journey Outdoors Bangladesh for choosing BEPZA EZ as its investment destination.
He reaffirmed BEPZA's commitment to providing world-class support for investors, ensuring a business-friendly and secure environment for operations.
With this latest agreement, the total proposed investment in BEPZA EZ now reaches US$ 1.11 billion from 50 companies, reflecting the zone's potential to attract a wide array of industries.
The signing ceremony was attended by senior BEPZA officials, including Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Md. Khorshid Alam, Executive Director (Enterprise Services); Samir Biswas, Executive Director (Admin); A.S.M. Anwar Parvez, Executive Director (Public Relations), as well as representatives from Journey Outdoors Bangladesh.