The Netherlands-based company, Checkpoint Systems Bangladesh Ltd-Unit 2, will invest $10.52 million to establish a garment accessories manufacturing factory in the economic zone (EZ) of the Bangladesh Export Processing Zones Authority (BEPZA).
BEPZA Member for Investment Promotion Ali Reza Mazid and Checkpoint Systems General Manager for South Asia Kumudu Athuruliya signed the agreement at the BEPZA Complex in Dhaka on Tuesday.
The company has set a target to produce 1,319 million units of hang tags, tickets, stickers and labels annually. The investment is expected to generate 274 jobs at the factory.
Checkpoint Systems Bangladesh Ltd-Unit 2 is the second factory of the Netherlands-based company in the industrial zones operated by the BEPZA.
The first one, Checkpoint Systems Bangladesh Ltd, has been operating in the Adamjee Export Processing Zone since 2009. It, however, started its operation in the Dhaka Export Processing Zone 15 years ago.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director for Public Relations Nazma Binte Alamgir, Executive Director for Investment Promotion Md Tanvir Hossain, and Executive Director for Enterprise Services, Md Khorshid Alam were present during the signing ceremony.
