Campvalley Chittagong to invest $54m in Bepza Economic Zone

Hong Kong-based company Campvalley Chittagong Limited is going to set up a camping equipment and garments manufacturing industry in the Bepza Economic Zone with an investment of $54 million.

Bangladesh Export Processing Zones Authority (Bepza) and Campvalley Chittagong Limited signed an agreement to this end at the Bepza Complex in the capital on Thursday, reads a press statement.

The foreign-owned company will produce annually 21.4 million pieces of tents, bags, backpacks, camping chairs, furniture, luggage, sleeping bags, knit and woven garments, gazebo, umbrella, mattress and furniture frames.

A total of 9380 Bangladeshi nationals will get employment opportunities in the factory, it added.

Currently, there are two other tent manufacturing companies in Chattogram and Karnaphuli Export Processing Zone under the same owner.

Ali Reza Mazid, member (investment promotion) of Bepza and Hong Woo Lee, chairman of Campvalley Chittagong signed the agreement on behalf of their respective organizations.

Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman were present during the signing ceremony.

Among others from Bepza, Executive Directors Md Zakir Hossain Chowdhury, Nazma Binte Alamgir, Md Tanvir Hossain and Md Khorshid Alam were also present on the occasion.

Previously, Bepza signed lease agreements with five other companies to set up factories in the Bepza Economic Zone. The companies will invest $60 million, where 23,582 Bangladeshi Nationals will get employment opportunities.