Chinese company to invest $40m in BEPZA EZ

Chinese company Fenix Garment Limited is going to set up a high-end garments manufacturing industry in Bangladesh Export Processing Zones Authority (BEPZA) Economic Zone (EZ) with an investment of around US$ 40 million.

In this regard, they signed an agreement with BEPZA on Sunday.

According to the proposal of Fenix Garment, they will produce annually 10 million pcs of different types of high-end garment products including Sports Jacket, Motorcycle Safety Jacket, Coverall, Hospital Gown, PPE, Luggage, Backpacks etc. The factory will create employment opportunities for 15,820 Bangladeshi nationals.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Ma Zhuang, Chairman of Fenix Garment Limited, signed the agreement on behalf of their respective organizations.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman congratulated the Fenix Garment for choosing BEPZA EZ as their investment destination.

He assured the investor to provide all sorts of support of BEPZA for setting up the industry and starting operations.

BEPZA Executive Chairman urged upon the investors for the optimum use of land during the construction of the factory.

He also requested to keep such provisions in the factory building so that they can use its rooftop for producing renewable energy.

Ma Zhuang, Chairman of Fenix Garment Limited said, “I have been in Bangladesh for the last 12 years and operating two factories in Cumilla and Chattogram EPZ. Fenix Garment is going to be our third venture under BEPZA”.

He appreciated BEPZA for providing one-stop service to run the business smoothly inside EPZ.

Mentioning the reasons behind investing in Bangladesh, he said, “I have explored many countries across the world for investment but found investment-friendly environment, a quality workforce of Bangladesh especially the EPZs and BEPZA Economic Zone as the best choice for me to expand my business.”

Mentionable that BEPZA EZ is the largest venture of BEPZA located at Bangabandhu Sheikh Mujib Shilpa Nagar, Mirsharai, Chattogram on 1138.55 acres of land.