BEPZA signs US$ 12m new investment agreement

Bangladesh Export Processing Zones Authority (BEPZA) signed lease agreement with two fully foreign-owned companies on Sunday. They will invest US$ 12 million to establish factories in Chattogram & Mongla EPZ. Including these two, BEPZA signed investment agreement with 12 companies with total proposed investment of US$ 125.21 million during the current fiscal year 2020-21.

One of the agreement signing enterprise namely M/s. MAS Sumantra 2 Private Limited, a Singapore-Sri Lanka owned company will establish a garments manufacturing industry in Chattogram EPZ. This company will invest US$ 7.18 million to produce annually 28.58 million pcs of intimate garments specially Brief & Bra. 2673 Bangladeshi nationals will be employed in this factory. On the same day, another company from South Korea M/s Gabo Global Limited also signed an agreement with BEPZA to set up a Garments & Camping Manufacturing industry in Mongla EPZ. This company will invest US$ 4.85 million to produce 2.3 million pcs of woven garments, knit garments and campaign items per annum.

This will create employment opportunity for 1030 Bangladeshi nationals. In presence of the Executive Chairman of BEPZA Major General Md Nazrul Islam, SPP, ndu, afwc, psc, G, this land lease agreement signing ceremonial was held at BEPZA complex, Dhaka. Member (Investment Promotion) of BEPZA Mr. Md. Mahmudul Hossain Khan and Country Head of MAS Sumantra 2 Mr. Mangala Athauda including Managing Director of Gabo Global Mr. Do Kyun Kim inked these agreements on behalf of their respective organizations.  Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Secretary Md. Zakir Hossain Chowdhury, General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Md. Tanvir Hossain of BEPZA witnessed both the signing ceremonies.

(AA)