KEPZ to get $6mn investment in RMG and bag manufacturing industry

A China-Taiwan based company, M/s HZ Outdoor International Co Limited, is going to set up a garment and bag manufacturing industry in Karnaphuli Export Processing Zone (KEPZ) with an investment of $6.03 million (equivalent to Tk 57.2 crore).

As a fully foreign owned company, it will produce annually 3.08 million pieces of jackets, bags, shirts, pants, shorts, trousers, caps/hats, skirts, vests and socks, and more than 2,200 Bangladesh nationals will be employed here, according to a statement.

It is also mentionable, there is another such type of factory named M/s HZ International Co, Ltd in Chattogram EPZ under the same owner.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and HZ Outdoor International Co, Ltd at BEPZA Complex, in Dhaka on Sunday.

Ali Reza Mazid, member (Investment Promotion) of BEPZA and Roberto Haryono Go, general manager of M/s HZ Outdoor, signed the agreement on behalf of their respective organisations.

The Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, witnessed the signing ceremony.

Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md. Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Enterprise Services) Md Khorshid Alam and Additional Executive Director (Investment Promotion) Md Fazlul Haque Mazumder were present during the signing ceremony.