The Bangladesh Export Processing Zones Authority (BEPZA) has secured another significant foreign investment in diversified product manufacturing at BEPZA Economic Zone. A land lease agreement has been signed between BEPZA and South Korean company PH Creative (BD) Ltd. to establish a tent and camping items, garment accessories, and bags and luggage manufacturing industry with the investment of US$ 24.03 million.
The agreement was signed at the BEPZA Complex, Dhaka on Monday, says a press release.
Md. Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, and Jin Ho Bae, Chairman of PH Creative (BD) Ltd., signed the agreement on behalf of their respective organizations. Major General Mohammad Moazzem Hossain, Executive Chairman of BEPZA, witnessed the signing ceremony.
PH Creative (BD) Ltd. will manufacture a wide range of products including steel, aluminum and iron frames; fiberglass poles; tents; sleeping bags; camping chairs; and various tent accessories such as PVC wear covers, caps, chair patches, hangers and hammers. The company will also produce trolley bags, handbags, and garment accessories including toggles and beads. The project is expected to create employment opportunities for around 2,000 Bangladeshi nationals.
In his remarks, BEPZA Executive Chairman thanked PH Creative (BD) Ltd. for choosing Bangladesh, particularly the BEPZA Economic Zone, as their investment destination. He also encouraged the company and other South Korean investors to explore further investment opportunities in high-tech sectors, especially in semiconductors and electronic products.
The ceremony was attended by Abdullah Al Mamun, Member (Engineering); A N M Foyzul Haque, Member (Finance); Md. Khorshid Alam, Executive Director (Enterprise Services); Samir Biswas, Executive Director (Administration); A.S.M. Anwar Parvez, Executive Director (Public Relations); along with senior officials of BEPZA and representatives of the company.
