Dhaka EPZ gets $25.62 million FDI 

Tri-nation company Gava Private Limited is going to establish a garments manufacturing unit with $25.62 million in the Dhaka Export Processing Zone (DEPZ). 

The project from joint investors from Hong Kong, Switzerland and Sri Lanka will create about 3,086 employment opportunities for Bangladeshi nationals. 

According to the Dhaka EPZ  officials, this tri-nation company will annually produce 4.4 million pieces of jackets, fleece jackets, t-shirts, polo shirts, sweaters, trousers, coveralls, stretch pants, denim pants, shorts, shirts, sweat-shirts, hi-vis shirts, and vests. 

They also mentioned that A-One BD, a knitting factory and another textile factory of DEPZ owned by an Italian investor, were shut down due to a business downturn. The Bangladesh Export Processing Zone Authority has decided to take steps for the auction process considering the continuation of the investment flow and the employment of the workers. 

In line with this process on Sunday Gava Private Limited signed the agreement to purchase A-One BD Limited Company through auction process and to run their business here. 

Ali Reza Mazid, member (Investment Promotion) of BEPZA and Prasanna Kumar Jayasinghe, director of Gava Private Limited, signed an agreement at the BEPZA Complex in the capital. Dhaka. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at the agreement 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 (Investment Promotion) Md Tanvir Hossain and Executive Director (Enterprise Services) Md Khorshid Alam were present during the signing ceremony.