Chinese firm KMK Industrial Limited, an airplane amenity bag and kit manufacturing company, is set to invest $18.60 million in the BEPZA Economic Zone.
According to the Bangladesh Export Processing Zones Authority, it would be the first company of its kind to invest in the BEPZA EZ, a step towards diversifying the industrial base.聽
The investment would create employment opportunities for 1,231 Bangladeshi nationals, said a press release issued by the BEPZA.
In this regard, Md Ashraful Kabir, member (investment promotion) of BEPZA, and Wu Yuxiang, chairman of KMK Industrial Limited, signed an agreement on Sunday, in presence of BEPZA executive chairman Major General Abul Kalam Mohammad Ziaur Rahman.
The company would initially manufacture airplane amenity bags and gradually expand into producing in-house items, such as socks, garments, accessories, cosmetics and selected electronic items, including headphones and USB cables.
This marked a breakthrough in introducing a unique and diversified product line to the portfolio of industries under BEPZA, said the state agency.
Speaking at the signing ceremony, BEPZA executive chairman thanked KMK Industrial Limited for choosing the BEPZA Economic Zone as their preferred investment destination.
He reaffirmed BEPZA鈥檚 commitment to providing full support to ensure smooth business operations.
鈥楾his project represents a milestone in our continuous effort to diversify export-oriented industries. We strongly encourage investors to develop in-house production capacity and source materials from local enterprises, thereby strengthening both industry and the national economy,鈥� he added.
Abdullah Al Mamun, member (engineering); ANM Foyzul Haque, member (finance); Md Tanvir Hossain, executive director (investment promotion); Md Khorshid Alam, executive director (enterprise services); Md Salahuddin, executive director (administration), and ASM Anwar Parvez, executive director (public relations) were also present along with representatives from KMK Industrial Limited at the signing ceremony.