Chinese company to invest $42m in Ishwardi EPZ
The company will create employment opportunities for 4,028 Bangladeshi nationals
Chinese company Vanessa Enterprise Ltd signed an agreement with Bangladesh Export Processing Zones Authority (Bepza) for setting up a ladies intimate garments accessories factory in Ishwardi EPZ with an investment of $41.77 million.
This fully foreign-owned company will produce annually 299.52 million pieces of Bra Cup and PU Foam. Some 4028 Bangladeshi nationals will be employed in the factory, said a media statement issued on Monday.
Bepza Member (finance), Nafisa Banu and Managing Director of Vanessa Enterprise Ltd, Choi Chun Ho signed the agreement on behalf of their respective organisations during a recently held ceremony at the Bepza headquarters in Dhaka.
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Other high officials from both organizations were also present on the occasion.
Bepza has been trying to attract both foreign and local investments in the EPZ even during the Covid-19 pandemic.
