Singapore-China joint venture to invest $18 mn in BEPZA

13 Nov '24

1 min read

Singapore-China joint venture to invest $18 million in BEPZA

Pic: The Bangladesh Export Processing Zones Authority

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Chic Wings (BD) Lingerie Co Limited, a Singapore-China joint venture, will invest $18 million to set up a garment manufacturing plant in BEPZA Economic Zone, Chattogram.
The company plans to produce 30 million garments annually and create 3,000 jobs.
The agreement was signed on November 12, with BEPZA.
BEPZA EZ hosts 36 companies with a total investment of $868.5 million.

Chic Wings (BD) Lingerie Co Limited, a Singapore-China joint venture, will invest $18 million to establish a garment manufacturing plant in the BEPZA Economic Zone (BEPZA EZ). The Bangladesh Export Processing Zones Authority (BEPZA) signed the agreement on November 12, 2024, at the BEPZA Complex in Dhaka.

In the presence of BEPZA executive chairman major general Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, member (investment promotion) of BEPZA, Ashraful Kabir and managing director of Chic Wings (BD) Lingerie Co Limited Lijuan Chen signed the agreement on behalf of their respective organisations.

Chic Wings (BD) Lingerie Co Limited will produce 30 million pieces of various garments annually, including briefs, undergarments, slips, boxers, shorts, camisoles, bras, and vests. The company plans to create 3,000 jobs for Bangladeshi nationals.

BEPZA Economic Zone (BEPZA EZ), located in Mirsharai, Chattogram, is BEPZA's largest venture. A total of 36 companies, including Chic Wings (BD), have signed agreements to invest a total of $868.5 million in the zone. Three of these companies have already begun commercial operations.

Fibre2Fashion News Desk (RR)

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