Sino-Malaysian Co to invest $14.55 million to produce mattress in Bepza EZ

Vernon and Oliver Furniture Company Limited, a China-Malaysia owned company, will produce mattresses in the largest venture of Bepza Economic Zone, by investing $14.55 million.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (Bepza) and Vernon and Oliver Furniture Company Limited at Bepza Complex, Dhaka yesterday. Mattress is newly added to the list of existing product-line of the Bepza industrial zone. 

Ali Reza Mazid, member (investment promotion) of Bepza, and Lee Wai Choong, managing director of Vernon and Oliver Furniture Company Limited, signed the agreement on behalf of their respective organisations. 

Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

The company will be the first Mattress manufacturing industry among the EPZs and Bepza EZ. Bepza Executive Chairman thanked Vernon and Oliver Furniture Company for choosing Bepza EZ as their investment destination and wished for their successful operation.

This company will produce 1.8 lakh pieces of spring mattress and foam mattress annually. Around 600 Bangladesh nationals will get employment opportunity in this factory. 

Bepza encourages the investors to produce diversified products reducing the single dependency on garments. The authority has so far approved a total of 24 enterprises including this one to establish industries in Bepza EZ and most of them will produce diversified products.

The total proposed investment of these enterprises is $510.2 million.

Executive Director (administration) ANM Foyzul Haque, Executive Director (investment promotion) Md Tanvir Hossain, Executive Director (enterprise services) Md Khorshid Alam and executive director (Public Relations) ASM Anwar Parvez along with representatives of the enterprise were present at the signing ceremony