Unifa Accessories (BD) Co. Ltd., a China-British Virgin Islands-owned company, is set to invest $48.66 million to establish a bag and fashion accessories manufacturing facility in the BEPZA Economic Zone (BEPZA EZ) at Mirsharai in Chattogram, reports BSS.
An agreement to this effect was signed recently at the BEPZA Complex in Dhaka between the Bangladesh Export Processing Zones Authority (BEPZA) and Unifa Accessories (BD) Co. Ltd.
In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, the agreement was signed by Md Ashraful Kabir, Member (Investment Promotion), on behalf of BEPZA, and Qian Danchu, Chairman of Unifa Accessories (BD), on behalf of the company, according to a BEPZA press release. The foreign-owned company will annually produce 28 million pieces of various fashion items, including bags, belts, caps, hats, scarves, mufflers, eyewear, and eyeglass frames. The project is expected to create employment opportunities for 2,830 Bangladeshi nationals.
The BEPZA Executive Chairman welcomed Unifa's investment in Bangladesh, particularly in BEPZA EZ. He assured the company of BEPZA's full cooperation in ensuring smooth business operations and expressed confidence that this Foreign Direct Investment (FDI) would contribute significantly to the country's socio-economic development.
The signing ceremony was attended by senior BEPZA officials, including Member (Engineering) Md Imtiaz Hossain, Member (Finance) A N M Foyzul Haque, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam, Executive Director (Public Relations) A.S.M. Anwar Parvez, and representatives from Unifa Accessories (BD).
BEPZA Economic Zone is the largest venture of BEPZA. So far, 42 companies, including Unifa Accessories, have signed agreements with a total proposed investment of $942.15 million. Among them, four companies have already commenced commercial operations.
