The Bangladesh Export Processing Zones Authority signed a lease agreement with two foreign companies on Sunday over the investment of $12 million in Chattogram and Mongla export processing zones.
BEPZA had earlier signed investment agreements with 10 other companies and the total amount of investment reached $125.21 million during the current fiscal year 2020-21.
Under one agreement, M/s MAS Sumantra 2 Private Limited — a Singapore-Sri Lankan company — will establish a garment manufacturing industry in Chattogram EPZ. This company will invest $7.18 million to annually produce 28.58 million pieces of intimate garments. As many as 2,673 Bangladeshis will be employed at this factory, according to a BEPZA press release.
Under another deal, M/s Gabo Global Limited — a South Korean company— will set up a garment and camping manufacturing industry in Mongla EPZ. It will invest $4.85 million to produce 2.3 million pieces of woven garments, knit garments and camping items per annum. The investment will create employment opportunities for 1,030 Bangladeshis, said the press release.
In presence of the BEPZA Executive Chairman Major General Md Nazrul Islam, BEPZA Member of Investment Promotion Md Mahmudul Hossain Khan and Country Head of M/s MAS Sumantra 2 Private Limited Mangala Athauda and Managing Director of Gabo Global Do Kyun Kim inked these agreements on behalf of their respective organisations at BEPZA complex in Dhaka.
