Chic Wings to invest $18m in BEPZA EZ

Singapore-China owned company Chic Wings (BD) Lingerie Co. Limited will invest $18 million to establish a garments manufacturing industry in the BEPZA Economic Zone (BEPZA EZ).

The Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect at the BEPZA Complex in the capital on Tuesday.

Member (Investment Promotion) of BEPZA Md. Ashraful Kabir and Managing Director of Chic Wings (BD) Lingerie Co. Limited Lijuan Chen signed the agreement on behalf of their respective organisations, said a press release.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present during the deal signing ceremony.

The foreign company will produce annually 30 million pieces of brief, undergarments, slip, boxer, short, camisole, bra and vest.

The company will create employment opportunities for 3,000 Bangladeshi nationals.

BEPZA Executive Chairman thanked Chic Wings (BD) for investing in Bangladesh, particularly in the BEPZA EZ, assured the company of providing all necessary support for smooth business operations.

The signing ceremony was attended by Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam, Executive Director (Admin) A.S.M. Zamshed Khondaker, and Executive Director (Public Relations) A.S.M Anwar Parvez, along with representatives of the enterprise.

Mentionable, BEPZA EZ, located in Mirsharai, Chattogram, is the largest venture of BEPZA. Some 36 companies, including Chic Wings (BD), have signed agreements to set up industries in this zone, with a total proposed investment of US$ 868.5 million. Among them, three have already commenced commercial operations.