Chinese company Fenix Garment Limited is going to set up a high-end garments manufacturing industry in the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone (EZ) with an investment of around $40 million.
They signed an agreement with BEPZA to this effect at BEPZA Complex in the city, read a press release.
BEPZA member (Investment Promotion) Ali Reza Mazid and Fenix Garment Limited Chairman Ma Zhuang signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman congratulated the Fenix Garment for choosing BEPZA EZ as their investment destination.
He assured the investor to provide all sorts of support to BEPZA for setting up the industry and starting operations.
The BEPZA executive chairman urged the investors for optimum use of the land during the construction of the factory.
He also requested to keep such provisions in the factory building so that they can use its rooftop for producing renewable energy.
Ma Zhuang said, "I have been in Bangladesh for the last 12 years and operated two factories in Cumilla and Chattogram EPZ. Fenix Garment is going to be our third venture under BEPZA".
He expressed appreciation towards BEPZA for providing a one-stop service to run the business smoothly inside EPZ.
"I have explored many countries across the world for investment, but found the investment-friendly environment, the quality workforce of Bangladesh, especially the EPZs and BEPZA EZ as the best choice for me to expand my business," Zhuang said.
According to Fenix Garment’s proposal, they will produce annually 10 million pcs of different types of high-end garment products including sports jackets, motorcycle safety jackets, coveralls, hospital gowns, PPE, luggage, backpacks etc.
The factory will create employment opportunities for 15,820 Bangladeshi nationals.
Mentionable that BEPZA EZ is the largest venture of BEPZA located at Bangabandhu Sheikh Mujib Shilpa Nagar, Mirsharai, Chattogram on 1138.55 acres of land.
BEPZA signed agreements with 15 companies, including Fenix Garment, to establish factories in the EZ. The total proposed investment of the companies is $363.65 million.
Three companies have already started the construction of factory buildings. BEPZA expects that one of these factories will be the first to enter manufacturing by early 2023.
BEPZA Executive Directors (Administration) Md Zakir Hossain Chowdhury, (Public Relations) Nazma Binte Alamgir, (Investment Promotion) Md Tanvir Hossain, (Enterprise Services) Md Khorshid Alam were present at the signing ceremony.
Project Director of BEPZA EZ Md Abdur Rahman Bhuiyan, members (Engineering) Mohammad Faruque Alam and (Finance) Nafisa Banu, along with other high officials of BEPZA and Fenix Garment were also present.
