A Hong Kong-based Chinese company, Tianford Bangladesh Textile Co Ltd, is set to invest $19.59 million to establish a readymade garment (RMG) manufacturing facility at the Bangladesh Export Processing Zones Authority’s Uttara Export Processing Zone (EPZ).
According to a report published by The Daily Star, the company signed a land lease agreement with Bepza at the Bepza Complex in Dhaka.
The project is expected to generate employment for 3,254 Bangladeshi nationals. The factory will be built on 24,000 square metres of land and will have an annual production capacity of 7 million pieces of woven and knit garments. The product line will include bottoms, shirts, jeans, jackets, and sweaters.
The company plans to export its products to major global markets, including the USA, Canada, Japan, China, Australia, Brazil, the United Kingdom, and countries in the European Union.
The agreement was signed by Md Tanvir Hossain, Executive Director (Investment Promotion) of Bepza, and Ge Zhenyu, Nominee Director of Tianford Bangladesh Textile Co Ltd. The signing ceremony was witnessed by Bepza Executive Chairman Major General Mohammad Moazzem Hossain.
During the event, the Bepza chairman stated that the new government is prioritising investment promotion and reaffirmed the authority’s commitment to providing modern, investor-friendly services. He also encouraged the company to procure quality raw materials from local sources to help strengthen domestic industries.
Ge Zhenyu expressed confidence in Bangladesh as a competitive destination for global investors. He announced that construction of the factory is scheduled to begin in April this year, with exports expected to commence next year.
Senior Bepza officials, including Member (Engineering) Abdullah Al Mamun, Member (Finance) ANM Foyzul Haque, Executive Director (Administration) Samir Biswas, and Executive Director (Public Relations) ASM Anwar Parvez, were also present at the signing ceremony.
Source: The Daily Star
