Italian co to invest $2.42m in Comilla EPZ

Ms Italia Knitworks Limited, an Italian company, will set up a sweaters manufacturing factory in the Comilla Export Processing Zone (EPZ). In this connection, an agreement was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and Ms Italia Knitworks Limited in the city Thursday. Member (Investment Promotion) of BEPZA Md Moyjuddin Ahmed and Managing Director of Ms Italia Knitworks Limited Angiolino Guagliumi signed the agreement on behalf of their respective organisations. This fully foreign owned company will invest US$2.452 million in setting up the unit and will manufacture sweaters items. The company will also create employment opportunities for 783 Bangladeshi nationals. Among others, Executive Chairman of BEPZA Major General ATM Shahidul Islam, Secretary Md Shawkat Nabi and General Manager (Investment Promotion) AZM Azizur Rahman were present at the deal signing ceremony. - Press release