Bangladesh Export Processing Zones Authority (Bepza) and China-based Home Joy Socks Bangladesh Company Limited signed an agreement for the establishment of a US $ 50 million sock and garment manufacturing factory in the Bepza Economic Zone.
The company’s goal is to produce 50 million pieces of infant knitwear, 100 million pairs of tights, 100 million pairs of socks, and 100 million pieces of lingerie annually.
At the facility inside the Bepza Economic Zone in Mirsarai, Chittagong, 4,980 Bangladeshi people would have work prospects thanks to the investment.
The agreement was drafted at the Bepza Complex in Dhaka by Md Ashraful Kabir, member (investment promotion) of Bepza, and Fu Wenlong, managing director of the business, according to a press release.
Maj Gen Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza, thanked the company for deciding to invest in Bepza Economic Zone.
He hoped that the foreign direct investment of this company would have a significant impact on the socioeconomic development of Bangladesh.
So far, 33 companies, including Home Joy Socks Bangladesh Company Limited, have signed agreements proposing to invest a total of US $ 768.46 million to set up factories inside Bepza Economic Zone.
Among them, three have already commenced commercial operations.
Among others, Mohammad Faruque Alam, member (engineering) of Bepza Economic Zone, ANM Foyzul Haque, member (finance), ASM Zamshed Khondaker, executive director (admin), Md Tanvir Hossain, executive director (investment promotion), Mohammad Anamul Haque, project director, were also present.