Chinese firm to invest $19.72m in high-end apparel factory at Bepza EZ

Chinese company October4128 (BD) Ltd is set to invest $19.72 million to establish a high-end garments manufacturing factory at the Bepza Economic Zone (BEPZA EZ) in Mirsharai, Chattogram.

An agreement to this effect was signed today (16 October) at the Bepza Complex in Dhaka between Bepza and October4128 (BD) Ltd, reads a press release.

In the presence of Major General Mohammad Moazzem Hossain, executive chairman of Bepza, the agreement was signed by Md Ashraful Kabir, member (Investment Promotion) on behalf of Bepza, and Mohammed Taufikul Ahsan, managing director of October4128 (BD) Ltd, on behalf of the company.

The company will annually produce about 3 million pieces of high-end apparel, including ski, snow sports, hunting and motor rider's gear, insulated winter coats, down jackets and pants, rain gear, workwear, running wear, yoga wear, and water sportswear.

The project is expected to create employment opportunities for 2,788 Bangladeshi nationals, the release said.

Speaking at the signing ceremony, Bepza Executive Chairman Major General Moazzem Hossain thanked the company for choosing BEPZA Economic Zone as its preferred investment destination and assured full cooperation to ensure smooth business operations.

So far, 49 companies, including October4128 (BD) Ltd, have signed agreements to invest in Bepza Economic Zone, with a total proposed investment of around $1.08 billion. Of them, six companies have already gone into production.

Bepza EZ has thus emerged as one of Bangladesh's most attractive investment destinations for both local and foreign investors.

The signing ceremony was also attended by Abdullah Al Mamun, member (Engineering); ANM Foyzul Haque, member (Finance); Mohammad Anamul Haque, project director (BEPZA Economic Zone); and ASM Anwar Parvez, executive director (Public Relations), along with representatives of October4128 (BD) Ltd, the release added.