Singapore-China investors to set up $27.57m high-end garment, outdoor goods plant in Bepza EZ
Journey Outdoors Bangladesh, a company jointly owned by investors from Singapore and China, is set to invest $27.57 million to establish a high-end garment and outdoor products manufacturing industry in the Bangladesh Export Processing Zones Authority (Bepza) Economic Zone (EZ) at Mirsharai, Chattogram.
A lease agreement to this effect was signed today (28 October) at the Bepza Complex in Dhaka between Bepza and Journey Outdoors Bangladesh, reads a press release.
The company will produce approximately 16 million pieces of high-end apparel and outdoor products annually. The product line will include underwear, T-shirts, polo shirts, shorts, fleece and down jackets, soft shell and waterproof jackets, outerwear, ski suits and pants, hiking, yoga, and running outfits, jeans, golf wear, casual skirts, fur-lined garments, as well as outdoor equipment such as backpacks, cross-body bags, tents, sleeping bags, hammocks, canopy tents, hats, gloves, socks, and scarves.
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The project is expected to create employment opportunities for 3,467 Bangladeshi nationals.
The investment marks a significant milestone for Bepza as Journey Outdoors Bangladesh becomes the 50th company to sign a lease agreement in the Bepza EZ. The growing number of investors highlights the zone's increasing global appeal and its emergence as a preferred destination for export-oriented industries seeking long-term stability and world-class facilities in Bangladesh.
The lease agreement was signed at the Bepza Complex in Dhaka between Md Ashraful Kabir, Member (Investment Promotion) of Bepza, and Han JunXiao, Managing Director of Journey Outdoors Bangladesh Co Ltd. Bepza Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony.
Bepza Executive Chairman expressed his gratitude to Journey Outdoors Bangladesh for choosing Bangladesh, particularly Bepza EZ, as their investment destination. He emphasised Bepza's unwavering commitment to providing world-class support for investors, fostering a secure and conducive environment for business operations.
With this agreement, the Bepza Economic Zone has now secured a total proposed investment of $1.11 billion from 50 companies, demonstrating the zone's potential to attract a wide range of industries.
