Chinese company Home Joy Socks Bangladesh Co Ltd is going to invest US$ 50 million to set up a Socks and Garments manufacturing industry in BEPZA Economic Zone (BEPZA EZ).
Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect at the BEPZA Complex in the city recently, according to a press release.
In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Managing Director of Home Joy Socks Bangladesh Co Ltd Fu Wenlong signed the agreement on behalf of their respective organizations.
This Chinese company will produce annually 100 million pairs of socks, 100 million pcs of tights, 100 million pcs of lingerie and 50 million pcs of baby knitwear. The company will create employment opportunities for 4980 Bangladeshi nationals.
BEPZA Executive Chairman thanked Home Joy Socks for investing in Bangladesh specially in BEPZA EZ. He hoped that the Foreign Direct Investment of this company would have a significant impact on the socio-economic development of Bangladesh.
Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Admin) ASM Zamshed Khondaker, Executive Director (Investment Promotion) Md Tanvir Hossain, Project Director of BEPZA EZ Mohammad Anamul Haque and Executive Director (Public Relations) ASM Anwar Parvez along with representatives of the enterprise were present during the signing ceremony.
Mentionable, BEPZA EZ, located at Mirsharai, Chattogram, is the largest venture of BEPZA. So far, 33 companies including Home Joy Socks signed agreement with a total proposed investment of $768.46 million to set up industries in this zone. Among them, three have already started commercial operation.
