Bangladesh’s Dhaka Export Processing Zone or Dhaka EPZ is all set to get an investment of around US $ 25.62 million in the apparel sector following Hong Kong-Sri Lanka-Switzerland-owned company Ms Gava Private Limited’s decision to establish a garments unit in the Dhaka EPZ.
It may be mentioned here that A-One BD, knitting and another textile factory of the Dhaka EPZ, was shut down due to a business downturn, following which the Bangladesh Export Processing Zone Authority (BEPZA) decided to take steps for the auction process considering the continuation of the investment flow and the employment of the workers, consequent to which Gava Private Limited signed an agreement to purchase A-One BD Limited Company through the auction process and run operations.
As per reports, this fully foreign-owned tri-nation company will invest US $ 25.62 million for the unit and produce annually 4.4 million pieces of jacket, fleece jacket, T-shirt, trousers, coverall, stretch pant, denim pant, polo shirt, sweater, shorts, shirt, sweat-shirt, Hi-Vis shirt, and vest besides employing around 3,086 Bangladeshi nationals.
With connection to the same, Member (Investment Promotion) of BEPZA Ali Reza Mazid, and Director of Gava Private Limited, Prasanna Kumar Jayasinghe recently signed an agreement on behalf of their respective organisations.
