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Apparel/Garments

South Korean firm plans shoe factory worth over $9 mn in BEPZA EZ

14 Aug '23
1 min read
Pic: Bangladesh Export Processing Zone Authority Economic Zone
Pic: Bangladesh Export Processing Zone Authority Economic Zone

Insights

  • South Korean firm Giant BD Footwear Ltd will invest $9.39 million to establish a shoe manufacturing industry in the BEPZA EZ.
  • The agreement was recently signed at BEPZA Complex, in Dhaka, Bangladesh.
  • Producing 20 million pairs of shoes and accessories annually, the fully foreign-owned project is expected to provide jobs for around 600 Bangladeshis.
South Korean company Giant BD Footwear Ltd is going to invest $9.39 million to set up a shoe and shoe accessories manufacturing industry in the Bangladesh Export Processing Zone Authority Economic Zone (BEPZA EZ). The agreement between the two parties to this effect was signed at BEPZA Complex, Dhaka recently.

The fully foreign owned company will produce annually 20 million pairs of different kinds of shoes/sandals and shoe accessories. The project is expected to provide employment opportunities for around 600 Bangladeshis, BEPZA said in a press release.

Ali Reza Mazid, member (investment promotion) of BEPZA, and Kim Byung Jin, chairman of Giant BD Footwear Ltd, signed the agreement on behalf of their respective organisations. The executive chairman of BEPZA major general Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.

ALCHEMPro News Desk (NB)
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