China's Quality Sportswear to invest $11.6 million in BEPZA EZ

14 Dec '23

1 min read

Pic: Bangladesh Export Processing Zones Authority (BEPZA)

Insights

Chinese company Quality Sportswear Mfrs Ltd is set to invest $11.55 million in establishing a manufacturing industry for garments, luggage, and fashion accessories within BEPZA EZ.
The agreement, signed on December 12, outlines the annual production of 6.05 million garments and 0.8 million accessories, generating employment for 3,310 Bangladeshi nationals.

Chinese company Quality Sportswear Mfrs Ltd will invest $11.55 million in establishing a manufacturing industry for ready-made garments (RMG), luggage, and fashion accessories within the Bangladesh Export Processing Zones Authority Economic Zone (BEPZA EZ). The agreement between BEPZA and Quality Sportswear Mfrs Ltd was signed on December 12.

Quality Sportswear Mfrs Ltd, a wholly foreign-owned company is poised to annually manufacture 6.05 million garments and 0.8 million items such as money bags, travel bags, belts, etc, within the BEPZA EPZ. This venture is expected to generate employment opportunities for 3,310 Bangladeshi nationals, contributing to both the country's industrial output and employment sector, BEPZA said in a press release.

BEPZA has granted approval for 26 enterprises, including the latest one, to establish industries within the BEPZA EZ. These enterprises are set to produce a variety of products, contributing to the diversification of industries. The combined proposed investment for these projects amounts to $529.4 million.

ALCHEMPro News Desk (RR)

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