Recently, the Bangladesh Export Processing Zone Authority (BEPZA) signed an investment agreement for two Chinese clothing and clothing accessories enterprises at the BEPZA Complex in the capital Dhaka.
The first company is QSL. S, a Chinese clothing manufacturing company, which plans to invest 19.5 million US dollars to establish a wholly foreign-owned clothing enterprise in the Bangladesh Export Processing Zone. It is expected that the annual production of clothing can reach 6 million pieces, including shirts, t-shirts, jackets, pants, and shorts. The Bangladesh Export Processing Zone Authority stated that the factory is expected to create employment opportunities for 2598 Bangladeshi nationals, marking a significant boost to the local economy.
The second company is Cherry Button, a Chinese company that will invest $12.2 million to establish a foreign-funded clothing accessory company in the Adamji Economic Processing Zone in Bangladesh. The company will produce clothing accessories such as metal buttons, plastic buttons, metal zippers, nylon zippers, and nylon coil zippers, with an estimated annual output of 1.65 billion pieces. The factory is expected to create employment opportunities for 1068 Bangladeshis.
In the past two years, Bangladesh has accelerated its pace of attracting investment, and Chinese enterprises have also accelerated their investment in Bangladesh. At the beginning of the year, another Chinese clothing company, Phoenix Contact Clothing Co., Ltd., announced that it would invest 40 million US dollars to establish a high-end clothing factory in Bangladesh’s export processing zone.
Post time: Sep-26-2023