German textile chemical manufacturer CHT Group is going to build textile auxiliary production unit in Meghna Industrial Economic Zone (MIEZ) of Narayanganj.
CHT Bangladesh, a subsidiary of GmbH Group, is the first global corporation to build textile auxiliary production facility in Bangladesh.
Industries Minister Nurul Majid Mahmud
Humayun inaugurated the factory unit at MIEZ as the chief guest.
In his speech, minister said that all the sectors are improving due to various initiatives of the current government and it is hoped that foreign companies will increase their investment in the country as the government is giving all kinds of support to this end.
He also said that a large part of Bangladesh’s economy is related to the textile industry and this investment would further improve its productivity.
According to the statement of the company, they have already begun the trial production and they are expected to go into full production by the end of this month.
Tanjima Binthe Mostafa, director of the Meghna Group of Industries (MGI), said establishing the private economic zone was a significant decision by the government that encouraged foreign investment and she thanked the Prime Minister and the BEZA.
She also said the private economic zones are playing an important role in the industrialization of the country and MGI always encourage the foreign companies to make sustainable and effective investments these economic zones.
According to the BEZA, a total of 22 industrial establishments of 11 foreign companies, including Australia, Japan, Germany, China, India and Norway, have been established in the economic zone located in Narayanganj.
Md Ali Ahsan, an executive member of Beza, Frank Naumann, chairman of CHT Group, Axel Breitling, chief financial officer, Bernhard Hettich, chief technology officer, and Benoit Moutault, managing director (CHT Switzerland AG) and group vice-president (textile) were also present at the event.