Chinese firm to invest $89 mn for factory in Bangladesh's Mongla EPZ

Yun Sheng BD's project encompasses the production of textiles, garments, and accessories within Mongla EPZ, marking a significant milestone for the region. The investment amount is the highest ever proposed by a single company for a factory within Mongla EPZ, BEPZA said in a media release.

The company's manufacturing portfolio will include a wide range of products such as woven/knitted fabrics, padding, quilting, printing fabrics, embroidered fabrics, coated fabrics, laminated fabrics, various tapes, knit and woven garments, and more. Importantly, this venture will generate employment opportunities for 5,421 Bangladeshi nationals.

The agreement signing ceremony took place at BEPZA Complex, Dhaka, with Ali Reza Mazid, member (investment promotion) of BEPZA, and Ji Lai Yang, managing director of Yun Sheng BD, sealing the deal. BEPZA executive chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc, was present to witness the occasion.

Mongla EPZ has emerged as an attractive investment destination, particularly after the opening of the Padma Bridge. In fiscal 2022-23, the zone attracted a total investment of $61 million, double the target. BEPZA recently signed lease agreements with five companies, including Yun Sheng BD Ltd, with a proposed investment of $142.7 million following the bridge's opening, the release added.

Currently, approximately 15,000 Bangladeshi nationals are employed in the 31 operational industries within Mongla EPZ. The zone has accumulated a total investment of $205 million and achieved impressive exports amounting to $1,169 million.

Fibre2Fashion News Desk (KD)