China's Handa Industries keen to set up MMF factory in Bangladesh
China-based apparel manufacturing company Handa Industries has expressed its interest for establishing a Man-made fibres (MMF) factory in Bangladesh, and has sought the necessary support from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), to this end.
Handa Industries Vice President Deng Peilei and MN Inter-Fashion Ltd General Manager Takashi Nakahashi met BGMEA Acting President Md Shahidullah Azim at BGMEA Complex on Sunday and expressed their interest.
At the meeting, Deng Peilei said that it required necessary support from BGMEA, the apex trade body of Bangladesh, to establish the MMF-based fabric factory here.
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They also talked about the market potential of MMF-based high-value apparels.
BGMEA Acting President Shahidullah Azim said that BGMEA has already prioritised the non-cotton segment, particularly MMF, polyester etc. Since BGMEA envisages exporting apparel worth $100 billion by 2030 as part of their strategic growth target, there will be huge opportunity in the non-cotton garment segment and backward linkage industries, where more foreign investments are required, he added.
Shahidullah further said that BGMEA will provide all-out support to any kind of foreign investment and joint ventures in the area of non-cotton.
Other officials of BGMEA, Handa Industries and MN Inter-Fashion Ltd were present at the meeting.
Handa Industries has its own manufacturing units in China, Myanmar and Egypt and exports apparels worth over $2 billion to the EU. On the other hand, MN Inter-Fashion Ltd, a Japanese buying house, has been operating its business for more than six years in Bangladesh.
