Chinese co to invest $42m in Ishwardi EPZ

Staff Correspondent

20 July, 2021 12:00 AM printer

Chinese company M/s. Vanessa Enterprise Limited has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) for setting up a ladies intimate garments accessories company in Ishwardi EPZ with an investment of US$ 41.77 million. 

 This fully foreign owned company will produce 299.52 million pieces of bra cup and PU foam annually, said a press release.

Four thousand twenty-eight Bangladeshi nationals will be employed in this factory. 

Member (Finance) of BEPZA Nafisa Banu and Managing Director of Vanessa Enterprise Limited Choi Chun Ho signed the agreement recently at BEPZA Complex in Dhaka on behalf of their respective organisations.

BEPZA is trying its best to attract foreign and local investment in the EPZ even during the Covid-19 pandemic. Investment-friendly policies of the government and favorable investment atmosphere of EPZs are encouraging various investors to invest in EPZs.