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Chinese company to invest $23.15m in Uttara EPZ

BI Report || BusinessInsider

Published: 18:53, 24 September 2023  
Chinese company to invest $23.15m in Uttara EPZ

Photo: Collected

A Chinese company is going to set up a textile and home textile manufacturing industry at Uttara EPZ with an investment of $23.15 million.

Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with Chinese company M/s. Bangladesh Boyang Textile Co. Ltd. to this effect at BEPZA Complex in Dhaka on Sunday.

Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman took part at the dead signing ceremony.

Ali Reza Mazid, member (Investment Promotion) of BEPZA and Peng Liu, chairman of Bangladesh Boyang Textile Co. Ltd. signed the agreement on behalf of their respective organizations.

This fully foreign owned company will create employment opportunities for at least 1993 Bangladeshi nationals.

Bangladesh Boyang Textile Co. will produce annually 50 million meters of linen/cotton woven and denim fabrics and 3 million pieces of home textile like pillow cases, bed sheets and tablecloths.

Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Public Relations) Nazma Binte Alamgir and Executive Director (Investment Promotion) Md Tanvir Hossain were present during the signing ceremony.

Mentionable, Uttara EPZ is a shining example of changing lifestyle of the Northern region. The poverty stricken area has been transformed into an industrially developed one after establishing Uttara EPZ in 2001.

At present around 35,000 Bangladeshi nationals are working in the 25 operational industries of this EPZ.

The zone has so far attracted investment of $235 million and exported goods worth of $2342 million.