Dutch-Bangla joint venture co to invest $6.14m in Cumilla EPZ

BSK Bangladesh Ltd, a Netherlands-Bangladesh joint venture company, will set up a bag manufacturing industry in Cumilla Export Processing Zone (EPZ), with an investment of US$ 6.14 million.

The company signed an agreement to this effect with Bangladesh Export Processing Zones Authority (BEPZA) at the BEPZA Complex in Dhaka on Wednesday, says a press release.

It will produce three million pieces of hand bag, backpack, travel bag, wallets and trolley bag annually. This manufacturing facility will open up job opportunities for some 1,032 Bangladeshis.

Member (Investment Promotion) of BEPZA Ali Reza Mazid and Chairman of BSK Bangladesh Ltd Jeroen Herms signed the agreement on behalf of their respective organisations in presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman.

Welcoming BSK Bangladesh, the Executive Chairman of BEPZA thanked them for choosing Cumilla EPZ as their investment destination.

He said that BEPZA is the pioneer investment promotion agency of Bangladesh and has been successfully operating eight EPZs covering only 934 hectares of land. And these EPZs account for around 20 per cent of the country's total export, he added.

The Executive Chairman urged the investors to start the construction of the factory as soon as possible.

He also requested the investor to invite more Dutch entrepreneurs to invest in Bangladesh.

BEPZA Member (Finance) Md Ashraful Kabir, Executive Director (Admin) ANM Foyzul Haque, Executive Director (Investment Promotion) Md Tanvir Hossain and Executive Director (Public Relations) ASM Anwar Parvez along with First Secretary of Economic Affairs of Dutch Embassy Sara van Hoeve and Managing Director of BSK Bangladesh Md Balal Hossain were present at the signing ceremony.

Bi Shaokai (Sophie), Chairman, and Joris Guisado, Managing Director of BSK Fashion Development Co. Limited, a sister concern of BSK Bangladesh Ltd, were also present.