Chinese company M/s Yun Sheng BD Co Ltd is going to establish a composite (Textile, Garments and Accessories) industry in the Mongla Export Processing Zone (EPZ).
This would be the first such kind of factory in Mongla EPZ.
Yun Sheng BD will invest $89 million to produce fabrics, garments and garment accessories items. It would be the highest amount of proposed investment ever from a single company that signed agreements to establish factories in Mongla EPZ.
An agreement was signed on Monday between Bangladesh Export Processing Zones Authority (BEPZA) and Yun Sheng BD Co Ltd to this effect at the BEPZA Complex in the city, read a press release.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Ji Lai Yang, Managing Director of Yun Sheng BD signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing ceremony.
Yun Sheng BD will produce Woven/Knitted Fabrics, Padding, Quilting, Printing Fabrics, Embroidered Fabrics, Coated Fabrics, Laminated Fabrics, all kinds of tape, Knit and Woven garments products etc.
This company will create employment opportunities for 5,421 Bangladesh nationals.
Among others, Member (Engineering) Mohammad Faruque Alam, Executive Director (Administration) ANM Foyzul Haque, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam and Executive Director (Public Relations) ASM Anwar Parvez along with representative of the enterprise were present during the signing ceremony.
The opening of the Padma Bridge has transformed Mongla EPZ as one of the best investment destinations for foreign and local investors. Once lagging behind the other seven EPZs of the country, Mongla EPZ has attracted investment of $61 million, double the set target, in the just-ended fiscal year 2022-23.
BEPZA signed lease agreements with five companies including Yun Sheng BD Ltd with a proposed investment of $142.7 million to invest in Mongla EPZ after the opening of the Padma Bridge.
