October4128, a Chinese company, is set to invest $19.72 million to establish a high-end garments manufacturing industry at the BEPZA Economic Zone located at Mirsharai in Chattogram, said a press release.
Bangladesh Export Processing Zones Authority member (investment promotion) Md Ashraful Kabir and October4128 (Bangladesh) limited managing director Mohammad Taufikul Islam signed an agreement in this regard on Thursday at BEPZA Complex in the capital.
Among others, BEPZA executive chairman Major General Mohammad Moazzem Hossain was present.
As per the agreement, the company will produce annually 3 million pieces of ski, snow sports, hunting and motor rider鈥檚 gear, insulated winter coats, down jackets & pants, rain gear, work wear, running wear, yoga wear, and water sportswear, creating employment opportunities for 2,788 Bangladeshi nationals.
Welcoming the investment, the BEPZA executive chairman thanked the company for choosing BEPZA Economic Zone as its preferred investment destination and assured full cooperation to ensure smooth business operations.
According to the press release, so far, 49 companies, including October4128 (Bangladesh) Ltd, have signed agreements to invest in the BEPZA Economic Zone, with a total proposed investment of around $1.08 billion.
Senior officials of the BEPZA and October4128 (Bangladesh) were present at the signing ceremony.