Chic Wings to invest $18 million in Bepza EZ
The company is expected to create employment opportunities for 3,000 Bangladeshi nationals
Chic Wings (BD) Lingerie Co Limited, a Singapore-China owned company, is set to invest $18 million to establish a garments manufacturing industry in the Bepza Economic Zone (Bepza EZ).
The Bangladesh Export Processing Zones Authority (Bepza) signed an agreement with the company to this effect at the Bepza Complex in Dhaka today (12 November), reads a press release.
In the presence of Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Bepza Member (Investment Promotion) Md Ashraful Kabir and Chic Wings (BD) Lingerie Co Limited Managing Director Lijuan Chen signed the agreement on behalf of their respective organisations.
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This foreign company will produce annually 30 million pcs of brief, undergarments, slip, boxer, short, camisole, bra and vest. The company is expected to create employment opportunities for 3,000 Bangladeshi nationals.
The Bepza executive chairman thanked Chic Wings (BD) for investing in Bangladesh, particularly in the Bepza EZ, and assured the company of providing all necessary support for smooth business operations.
The signing ceremony was attended by Member (Engineering) Mohammad Faruque Alam, Member (Finance) ANM Foyzul Haque, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam, Executive Director (Admin) ASM. Zamshed Khondaker, and Executive Director (Public Relations) ASM Anwar Parvez, along with representatives of the enterprise.
Mentionable, Bepza EZ, located in Mirsharai, Chattogram, is the largest venture of Bepza. A total of 36 companies, including Chic Wings (BD), have signed agreements to set up industries in this zone, with a total proposed investment of $868.5 million. Among them, three have already commenced commercial operations.
