Chinese company to invest $42mn in Ishwardi EPZ
BI Report || BusinessInsider
A view of the entrance of Ishwardi EPZ. Photo: File
Chinese company Vanessa Enterprise has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) for setting up a ladies intimate garments accessory company in Ishwardi EPZ with an investment of $41.77 million.
This fully foreign-owned company will produce annually 299.52 million pieces of bra cup and PU foam. Some 4,028 Bangladeshi nationals will be employed in this factory, said a press release.
Member (Finance) of BEPZA Nafisa Banu and Managing Director of Vanessa Enterprise Choi Chun Ho signed the agreement recently at BEPZA Complex, Dhaka on behalf of their respective ends.
BEPZA in the press release said it is trying its best to attract foreign and local investment in the EPZ even during the Covid-19 pandemic. Investment-friendly policies of the government and favourable investment atmosphere of EPZs are encouraging various investors to invest in EPZs, it added.
