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Bank & Finance - Corporate - April 25, 2022

Chinese company to invest $50m in BEPZA economic zone

Industry Desk: Chinese Company Venus Beauty Limited is going to set up a hair fashion accessories manufacturing industry in Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone with an investment of US$50 million.
This fully foreign owned company will produce annually 226.09 million pieces of fashion accessories, plastic comb, mirror, headband, pony tailor and pony band.
In presence of the Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, its Member (Finance) Nafisa Banu and Executive Consultant of Venus Beauty Limited AMM Shamsuddin Chowdhury signed the agreement on behalf of their respective organisations at BEPZA Complex here today, said a press release.

A total of 4,000 Bangladeshi nationals will get employment opportunity in this factory.

Among others, BEPZA Executive Director (Administration) Md. Zakir Hossain Chowdhury, its Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam and Project Director of BEPZA EZ Md. Hafizur Rahman were present during the signing ceremony.

Earlier, BEPZA signed lease agreement with seven other companies to set up industry in BEPZA Economic Zone and those companies will invest US$120.11 million where 34,952 Bangladeshi Nationals will get employment opportunities.

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