BEPZA EZ secures $6 mn investment from Chinese firm

17 May '23

1 min read

Pic: Bangladesh Export Processing Zones Authority (BEPZA)

Insights

Jibin Technology is investing $6 million to build a shoe accessories manufacturing plant in Bangladesh's BEPZA Economic Zone.
The factory, initially creating 195 jobs, is projected to produce six million pairs of accessories annually.
BEPZA, spanning over 1138.55 acres, has secured lease agreements with 18 companies, planning a $400 million investment.

Jibin Technology (BD) Company Limited, a Chinese firm, is set to invest $6 million to establish a shoe accessories manufacturing industry within the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone (EZ). The deal was sealed at the BEPZA Complex in Dhaka, Bangladesh.

Jibin Technology (BD) plans to produce six million pairs of shoe accessories annually, including items like outsoles, midsoles, injection parts, backstays, heel clips, toe caps, sports spikes, EVA, PU foam, and PU components. The venture is initially expected to create job opportunities for 195 Bangladeshis, BEPZA said in a press release.

The BEPZA EZ, located at Bangabandhu Sheikh Mujib Shilpa Nagar, Mirsharai, Chattogram, is the most extensive initiative of BEPZA, spanning 1138.55 acres. In order to further develop this industrial enclave, BEPZA has finalised lease agreements with 18 domestic and international companies, including Jibin Technology (BD). The companies plan to invest a total of $400 million to manufacture a diverse range of products, including traditional readymade garments.

Fibre2Fashion News Desk (NB)

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