Chinese company to invest $6.55m in Dhaka EPZ

Meigo (Bangladesh) Limited, a fully foreign-owned Chinese company, is going to establish a toy manufacturing industry in Dhaka Export Processing Zone with an investment of $6.55 million.

Bangladesh Export Processing Zones Authority member (investment promotion) Ali Reza Mazid and Meigo (Bangladesh) Limited Senior Operation Manager Chen Shu Qiang signed an agreement in this regard at BEPZA Complex in Dhaka on Wednesday, a press release said.

With the proposed investment, the company will produce annually 0.9 million pieces of die-cast toy, plastic toy, plush toy, and collectibles toy.

A total of 1,616 Bangladeshi nationals will be employed in the company, the release read.

BEPZA member (finance) Nafisa Banu, Secretary Md Zakir Hossain Chowdhury, General Manager (Public Relations) Nazma Binte Alamgir, General Manager (Investment Promotion) Md Tanvir Hossain, and General Manager (Enterprise Services) Md Khorshid Alam were present at the signing ceremony.