DHAKA – Chinese company, Alpen Banyan Garments BD Co Ltd, will invest US$109m in the Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone.
The deal, signed in Dhaka this week, is the largest ever by a single company for establishing industries in the BEPZA Economic Zone.
Alpen Banyan Garments will establish a garment manufacturing factory on 90,000 square meters of land. There it will produce 43 million pieces of woven and knit garments annually. Once fully operational, the factory will create 12,000 jobs.
The agreement was signed at the BEPZA Complex in the capital, with BEPZA executive chairman Abul Kalam Mohammad Ziaur Rahman present. BEPZA Member (investment promotion) Md Ashraful Kabir and Alpen Banyan Garments Director Li Tianning signed the agreement on behalf of their respective organizations.
BEPZA executive chairman expressed gratitude to Alpen Banyan Garments for selecting the BEPZA Economic Zone as its investment destination. He said that while BEPZA welcomes investment from all sectors, including ready-made garments (RMG) and textiles, there is a push to encourage more investment in diversified sectors such as automobiles, electronics, electrical products, and IT.
BEPZA has received positive responses from both domestic and international investors regarding the BEPZA Economic Zone, the organization’s largest venture located in Mirsarai, Chattogram.
To date, 29 companies, including Alpen Banyan Garments, have signed agreements to invest a total of US$688m in the BEPZA Economic Zone. These companies are set to produce a variety of products, including footwear and accessories, tents and camping equipment, hair care products, lubricating oil, and disposable cutlery, in addition to ready-made garments and textiles.
Three companies in the BEPZA Economic Zone have already commenced commercial production, with three more expected to make their first exports within this year.
