Chinese firm announces $19.5 mn investment in Bangladesh

This investment envisages the creation of a fully foreign-owned enterprise that aims to produce an annual output of 6 million pieces of woven and knit garments, encompassing a range of products such as shirts, T-shirts, jackets, pants, and shorts. The factory is projected to generate employment opportunities for 2,598 Bangladeshi nationals, signalling a significant boost to the local economy, Bangladesh Export Processing Zones Authority (BEPZA) said in a press release. 

Chinese firm QSL.S Garments will invest $19.5 million in Bangladesh’s Mongla Export Processing Zone (MEPZ) to set up an RMG industry, aiming to produce 6 million woven and knit garments annually.
The initiative, formalised at a BEPZA ceremony, promises to create jobs for 2,598 locals.
BEPZA’s Nafisa Banu and the company’s Wanle Xuan signed the agreement.

The ceremonial event was overseen by major general Abul Kalam Mohammad Ziaur Rahman, the executive chairman of the Bangladesh Export Processing Zones Authority (BEPZA). Representing their respective organisations, the pact was signed by Nafisa Banu, member (finance) of BEPZA, and Wanle Xuan, managing director of QSL.S Garments.

Fibre2Fashion News Desk (KD)