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Business Insider Bangladesh

South Korean HKD Group to invest $35mn in BEPZA EZ

BI Report || BusinessInsider

Published: 16:54, 26 May 2022  
South Korean HKD Group to invest $35mn in BEPZA EZ

Officials of South Korean company HKD Bangladesh Limited and BEPZA Economic Zone (EZ) at an agreement signing ceremony on May 26. Photo: Courtesy

South Korean company HKD Bangladesh Limited is going to establish a tent, tent accessories, camping furniture and camping equipment manufacturing industry in BEPZA Economic Zone (EZ).

The company will invest $35.03 million where 6,650 Bangladeshi nationals will get employment opportunities.

Ali Reza Mazid, member (Investment Promotion) of BEPZA and Chul Hee Kim, chief operating officer of HKD signed an agreement to this effect on behalf of their respective organisations on Thursday at BEPZA Complex, Dhaka.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the agreement signing ceremony.

HKD Bangladesh Limited will produce annually 18.8 million pcs of tents, backpacks, bags, steel poles, fibreglass poles, travellers’ bags, gazebos, screen houses, cots, pet carriers, camping furniture, chair, tables, float tube bag, wagon, tarp, trolley, purse, steel wire, walking stick, steel accessories, steel ferrule, steel peg, o-ring, d-ring, steel trips, revert, screw, washer, steel bracket, nut with washer, tent accessory, cotton blinder, wallet/purse, bag accessory and sleeping bag.

HKD is a fully foreign-owned company that started its operation in 1990 in Chattogram EPZ.

HKD Bangladesh Limited would be the fifth venture of HKD group with BEPZA.

The group has 4 operational enterprises in Chattogram and Karnaphuli EPZ who invested about $100 million in producing tents, camping equipment and readymade garments. Around 10,000 Bangladeshi nationals are working in those factories.

Including HKD Bangladesh Limited, BEPZA has so far approved a total of eight companies to set up industries in BEPZA EZ.

The proposed investment of the other 7 companies which have already signed lease agreements is $120.11 million where 35,000 Bangladeshi nationals are working.

Nagad
Monetary Policy Stance
Budget 2020-21
Walton