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Chinese firm to set up $27.8 mn sock manufacturing plant in Bangladesh

23 Mar '24

1 min read

Agreement signing ceremony. Pic: BEPZA

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Chinese firm Dongfang Knitting (BD) Co Ltd is set to invest $27.8 million to set up a sock manufacturing facility in the BEPZA Economic Zone, Bangladesh.
The plant aims to produce 216 million pairs of socks yearly and create jobs for 5192 Bangladeshi nationals.
The agreement, enhancing Bangladesh's manufacturing sector, was signed in Dhaka.

Chinese enterprise Dongfang Knitting (BD) Co Ltd has announced a substantial investment of $27.8 million to set up a state-of-the-art sock manufacturing industry within the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone, located at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsharai, Chattogram. The agreement to this effect was inked in a ceremony graced by the presence of BEPZA's executive chairman, Major General Abul Kalam Mohammad Ziaur Rahman.

This venture marks a significant foreign investment in Bangladesh’s growing manufacturing sector, with the facility poised to produce an impressive 216 million pairs of socks annually for men, women, and children. Additionally, the initiative is expected to generate employment for approximately 5192 Bangladeshi nationals, contributing significantly to local job creation.

The landmark deal was officially signed by Ali Reza Mazid, member (investment promotion) of BEPZA, and Fang Zhendong, managing director of Dongfang Knitting (BD) Co Ltd, at the BEPZA Complex in Dhaka, BEPZA said in a press release.

Fibre2Fashion News Desk (DP)

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