Bangladeshi Company to invest US$ 20 million in Mongla EPZ

Bangladeshi company M/s. Adventure Bag & Luggage Factory Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to set up a Bag & Luggage manufacturing industry in Mongla Export Processing Zone (Mongla EPZ),reads a press release.

This local owned company will invest US$ 19.89 million to produce annually 3.13 million pcs of Backpack, Soft Luggage, Hard Luggage, Duffle Trolley, Ladies Hand Bag etc. They will create employment opportunity for 1530 Bangladeshi nationals.

According to the press release, Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Mohammad Ishtiak Parag, Chairman of Adventure Bag & Luggage Factory Limited signed the agreement on behalf of their respective organizations on 15 June 2023 at BEPZA Complex, Dhaka. The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing ceremony.

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

Mentionable that Mongla EPZ was established on 302.97 acres of land adjacent to Mongla Port Area in Bagerhat district in 1998. At present 12,545 Bangladeshi nationals are working in 32 operational industries in Mongla EPZ. Moreover, 8 factories are now under implementation stage. As on May 2023, Mongla EPZ attracted investment of US$ 163.10 million and exported goods worth of US$ 1106.40 million.