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Apparel/Garments

Chinese firm to set up costume factory in Uttara EPZ worth $2.26 mn

02 Nov '23
1 min read
Pic: Bangladesh Export Processing Zones Authority (BEPZA)
Pic: Bangladesh Export Processing Zones Authority (BEPZA)

Insights

  • Chinese firm Red Forest Limited plans to establish a $2.26 million wig and carnival costume factory in Uttara EPZ, Bangladesh.
  • The company signed an agreement with BEPZA in Dhaka, aiming to produce 4.09 million pieces annually and create 379 local jobs.
  • BEPZA's member (engineering) Mohammad Faruque Alam and Red Forest's director Li Chao inked the deal.
Chinese company Red Forest Limited is going to set up a wig and carnival costume manufacturing industry in the Uttara economic processing zone (EPZ) with an investment of $2.26 million. The firm signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex, Dhaka, recently.

Red Forest Limited will produce 4.09 million pieces of wigs and carnival costume annually. Around 379 Bangladeshis are set to receive employment opportunities as a result of this project, BEPZA said in a press release.

Member (engineering) of BEPZA Mohammad Faruque Alam and director of Red Forest Limited Li Chao, signed the agreement on behalf of their respective organisations. BEPZA executive chairman major general Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

ALCHEMPro News Desk (NB)
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