The company signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) recently, at the BEPZA Complex in Dhaka to formalise the investment.
The foreign-owned company plans to produce 28 million units of various fashion items annually, including bags, belts, caps, hats, scarves, mufflers, eyewear, and eyeglass frames. The project is expected to create employment opportunities for 2,830 Bangladeshi nationals, according to Bangladeshi media reports.
Welcoming Unifa’s investment in BEPZA EZ, Abul Kalam Mohammad Ziaur Rahman, the executive chairman of BEPZA assured full support for smooth business operations and expressed optimism that this Foreign Direct Investment (FDI) would play a vital role in Bangladesh’s socio-economic growth.
The BEPZA Economic Zone is the largest project undertaken by the Bangladesh Export Processing Zones Authority. To date, 42 companies, including Unifa Accessories, have signed agreements with a combined proposed investment of $942.15 million. Of these, four companies have already begun commercial operations.
ALCHEMPro News Desk (RR)
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