Bangladeshi company M/s. CIP Limited will set up a bag & luggage manufacturing industry at Mongla EPZ with an investment of $ 6.23 million.
The company today signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex in the city in this regard, according to a press release.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Chairman of CIP Limited M A Hanif Bhuiyan signed the agreement on behalf of their respective organizations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
BEPZA Executive Chairman thanked CIP Limited for investing in the Mongla EPZ. He said two other luggage and bag manufacturing companies are successfully operating their business in Mongla EPZ.
He hopes that CIP Limited will also successfully run its business in this EPZ.
Expressing his optimism M.A Hanif Bhuiyan, Chairman of the CIP Limited said that they will start their commercial production by November next year after completing the construction of the factory building within the next 6-8 months.
He said that they will use Mongla Port instead of Chittagong Port for import–export activities which will be more cost and time-effective for them.
CIP Limited will produce 9.5 million pieces of backpacks, soft luggage, hard luggage, duffles, trolleys, school bags and ladies' handbags annually. A total of 1550 Bangladeshi nationals will get employment opportunities in this company.
Among others, Executive Director (Administration) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain and Executive Director (Public Relations) A.S.M. Anwar Parvez were present during the signing ceremony.
The demand has increased to invest in the Mongla EPZ after the launching of the Padma Bridge & vibrant operations of the Mongla Port. Mentionable, 31 industries have been operating their business in Mongla EPZ where 15,062 Bangladeshi nationals are employed.
