Bangladeshi company Adventure Bag and Luggage Factory Ltd has signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to set up a bag and luggage manufacturing industry in the Mongla Export Processing Zone (Mongla EPZ).
This company will invest $19.89 million to produce annually 3.13 million pieces of backpack, soft luggage, hard luggage, duffle trolley, ladies’ handbag, etc, read a press release.
It will create employment opportunities for 1,530 Bangladesh nationals.
Ali Reza Mazid, member (investment promotion) of BEPZA and Mohammad Ishtiak Parag, chairman of Adventure Bag and Luggage Factory Ltd, signed the agreement on behalf of their respective organisations at BEPZA Complex in Dhaka on June 15.
BEPZA Executive Chairman Maj Gen Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu and Executive Director (Investment Promotion) Md Tanvir Hossain were also present at the event.
The Mongla EPZ was established on 302.97 acres of land adjacent to the Mongla port area in Bagerhat in 1998, read the release.
Currently, 12,545 Bangladeshis are working in 32 operational industries in Mongla EPZ. Moreover, eight factories are now in the implementation stage.
As of May 2023, the Mongla EPZ attracted an investment of $163.10 million and exported goods worth $1,106.40 million.
