Chinese company to invest $42m in Ishwardi EPZ

Vanessa Enterprise Ltd, a Chinese manufacturer of fabric bra cup, has agreed to invest $42 million in Ishwardi Export Processing Zone.

Bangladesh Export Processing Zones Authority (BEPZA) member (finance) Nafisa Banu and Vanessa Enterprise Managing Director Choi Chun Ho signed an agreement recently in this regard at BEPZA Complex in Dhaka, a press release said on Monday.

With the proposed investment, the fully foreign-owned company will set up Ladies Intimate Garments Accessories Company in Ishwardi EPZ.

It will produce annually 299.52 million pieces of bra cup and PU foam.

The company expects to create job opportunities for 4,028 Bangladesh nationals.