Bangladesh Export Processing Zones Authority signs investment agreements with two Chinese apparel companies

Recently, the Bangladesh Export Processing Zones Authority (BEPZA) signed investment agreements with two Chinese apparel and garment accessories companies at the BEPZA Complex Building in the capital city, Dhaka.

The first company is QSL.S, a Chinese clothing manufacturing company who plans to invest $19.5 million in establishing a wholly-owned foreign apparel enterprise in the Bangladesh Export Processing Zone. The estimated annual production of garments is expected to reach 6 million pieces, including shirts, t-shirts, jackets, pants, and shorts. BEPZA stated that this factory is expected to create employment opportunities for 2,598 Bangladeshi nationals, marking a significant boost to the local economy.

The second company is Cherry Button, a Chinese company. It will invest $12.2 million to establish a foreign-funded garment accessories company in the Bangladeshi Adamjee Economic Zone, producing metal buttons, plastic buttons, metal zippers, nylon zippers, and coil zippers for clothing. The estimated annual production is 1.65 billion pieces, and this factory is expected to create job opportunities for 1,068 Bangladeshis.

In the past two years, Bangladesh has accelerated its efforts to attract foreign investment, and Chinese companies have also expedited their investment in Bangladesh. Earlier this year, another Chinese apparel company, Phoenix Apparel Limited, announced a $40 million investment to establish a high-end garment factory in the Bangladesh Export Processing Zone.