Chinese co to invest $3.82m in Ishwardi EPZ to produce wig

A Chinese company Bangladesh Haijintone Hair Products Company Ltd will invest $ 3.82 million in Ishwardi Export Processing Zone (EPZ) to establish a wig manufacturing industry, reports BSS.

The Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company at the BEPZA Complex in the capital on Monday, said a press release.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony, where Member (Engineering and Investment Promotion-Additional Charge) of BEPZA Md Imtiaz Hossain and Chairman of M/s Bangladesh Haijintone Hair Products Co Ltd Gao Tuanxu signed the agreement on behalf of their respective organisations.

The Chinese company plans to produce 6.98 million pieces of hair wigs and hair related products annually, creating employment opportunities for 1474 Bangladeshi nationals.

This will be the fourth factory in Ishwardi EPZ producing wigs and hair-related items, joining the three other factories already engaged in similar production in the zone.

BEPZA Executive Chairman thanked Bangladesh Haijintone Hair Products for choosing Ishwardi EPZ as their investment destination, highlighting BEPZA's commitment to providing a secure and supportive environment for investors.

He encouraged the company and other Chinese investors to consider further investments in diverse sectors.

The signing ceremony was attended by senior BEPZA officials, including Member (Finance) ANM Foyzul Haque, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam, Executive Director (Admin) Md Tazim-Ur-Rahman, Executive Director (Public Relations) ASM Anwar Parvez and representatives of Bangladesh Haijintone Hair Products.