Chinese company to invest $9.5 million in Mongla EPZ

China's M/s Yuanshun Enterprise Company Limited has announced its plans to establish a packaging industry at the Mongla Export Processing Zone (Mongla EPZ). With an investment of $9.49 million, this venture is expected to generate employment opportunities for 490 Bangladeshi nationals.

The newly established company, fully owned by foreign investors, will focus on producing various types of packaging boxes including paper boxes, jewellery boxes, jewellery bags, watch boxes, gift boxes, and cartoons. It aims to manufacture 10 million pieces annually to cater to the growing demand for quality packaging solutions, reads a press release.

The agreement to initiate this project was signed between Bepza (Bangladesh Export Processing Zones Authority) and M/s Yuanshun Enterprise at the Bepza Complex in Dhaka on 15 June. The signing ceremony was witnessed by Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc, the executive chairman of Bepza.

Ali Reza Mazid, member (Investment Promotion) of Bepza, and Lin Yuan, managing director of Yuanshun Enterprise Company Limited, represented their respective organisations during the signing of the agreement. The event also saw the presence of other dignitaries, including Mohammad Faruque Alam (member, Engineering), Nafisa Banu (member, Finance), Md Tanvir Hossain (executive director, Investment Promotion), and Md Khorshid Alam (executive director, Enterprise Services).

This strategic investment by M/s Yuanshun Enterprise Compnay Limited is anticipated to contribute to the growth and development of the Mongla EPZ while creating job opportunities for the local workforce.