Chinese company sets record with $76.41 mn investment in BEPZA EZ

The company signed an agreement with BEPZA to this effect at BEPZA Complex, Dhaka on June 15, 2023, BEPZA said in a press release.

BEPZA executive chairman major general Abul Kalam Mohammad Ziaur Rahman thanked Mingda (Bangladesh) for choosing Bangladesh as well as BEPZA EZ as their investment destination. He said that BEPZA mainly emphasised on three things to establish a factory in the economic processing zone—diversified products, amount of investment, and employment. He urged Mingda (Bangladesh) to start the construction of the factory as soon as possible and requested for the optimum use of the land.

Huang Shangwen, director of Mingda (Bangladesh), said that the company has some factories in China. Now Mingda will set up factories in Bangladesh due to increasing wages of the workers in China. Shangwen said that mainly different types of artificial fabric would be produced. He wished to expand their business in Bangladesh considering the success of this project. “We will begin construction of the factory very soon keeping in mind safety and environmental issues, and start production by the end of the year,” he added.

Mingda (Bangladesh) will produce different cotton products including imitation silk cotton, tile cotton, needle punched cotton; different types of artificial/manmade fabric, artificial fabrics including geotextile; and different hospital products and bags packaging items including geo-bags, non-woven bags, etc. The factory is expected to provided employment opportunities to around 2,830 Bangladeshis.

Fibre2Fashion News Desk (NB)