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Chinese company to invest $21.85m in BEPZA EZ

Chinese company to invest $21.85m in BEPZA EZ

Chinese company Unicorn Handbag Limited is going to invest $21.85 million to set up a carry bag and luggage manufacturing industry in Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone. BEPZA on Wednesday (Jul 3) signed an agreement with the company to this effect at BEPZA Complex in the city, said a press release.

In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, Member (Investment Promotion) of BEPZA, Md. Ashraful Kabir and Managing Director of Unicorn Handbag Limited Zheng Shuyong signed the agreement on behalf of their respective sides.

This Chinese company will produce annually 1.7 million pcs of backpack and handbag, wallet, bag, cap, belt, and luggage where 2,000 Bangladeshi nationals will get employment opportunity.

Welcoming Unicorn Handbag Limited, BEPZA Executive Chairman hoped that their investment will have a significant impact on Bangladesh's Foreign Direct Investment (FDI) landscape.

Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam and Executive Director Moshiuddin Bin Mesbah were present at the signing ceremony.