Tianford Bangladesh Textile Co, Ltd, a China (Hong Kong) based company will investment $19.59 million and expected to create employment opportunities for 3,254 Bangladeshi nationals.
The company Sunday signed a land lease agreement with Bangladesh Export Processing Zones Authority (BEPZA) to establish a Ready Made Garments (RMG) manufacturing industry at Uttara EPZ in Dhaka, says a press release.
Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, signed the agreement on behalf of BEPZA, while Ge Zhenyu, Nominee Director of Tianford Bangladesh Textile Co, Limited, signed on behalf of the investing company. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain, witnessed the signing ceremony.
The company will manufacture a wide range of woven and knit garments, including bottoms, tops, shirts, jeans, jackets, T-shirts, polo shirts, sportswear, sweaters, hoodies and all kinds of jersey, with an annual production capacity of 7 million pieces.
The factory will be set up on 24,000 square meters of land. Its products will be exported to major international markets including the USA, Canada, Japan, China, Australia, Brazil, the UK and European countries.
Welcoming the investor, the Executive Chairman of BEPZA reaffirmed the Authority's commitment to providing seamless services and a business-friendly environment to ensure the successful implementation and operation of the project.
He mentioned that the new government has assumed office with a strong focus on promoting investment and attaching due importance to investors. He also encouraged the company to explore opportunities for sourcing quality raw materials locally, where feasible, to help strengthen Bangladesh's domestic industries alongside export-oriented growth.
Ge Zhenyu, Nominee Director of Tianford Bangladesh Textile Co expressed his satisfaction with BEPZA's investor-friendly initiatives and conveyed his confidence in Bangladesh as an increasingly attractive destination for global investors.
He informed that construction of the factory will commence from April this year and expressed hope that the company will be able to start exporting its products from next year.
The ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Samir Biswas, Executive Director (Administration); A.S.M. Anwar Parvez, Executive Director (Public Relations); along with senior officials of BEPZA and representatives of Tianford Bangladesh Textile Co., Limited.
