South Korea to Invest $4.15m in Mongla EPZ

JD Creation Limited, a South Korean company, is going to establish a manufacturing industry for camping items, garments, tent and garments accessories in Mongla Export Processing Zone with an investment of $4.15 million.

Bangladesh Export Processing Zones Authority member (engineering and investment promotion-additional charge) Mohammad Faruque Alam and JD Creation Limited Managing Director Seung Chul Kim signed an agreement in this regard at BEPZA Complex in Dhaka on Monday, a press release said.

BEPZA Executive Chairman Major General Md Nazrul Islam witnessed the signing ceremony.

With the proposed investment, the fully foreign-owned company will produce annually 4.85 million pieces of camping items like tent, sleeping bags, bag, camping chair, hat and cap, woven garments like shirt, jacket and 2.02 million Yds of printing, embroidery, string and elastic band.

A total of 1,990 Bangladeshi nationals will be employed in the company, the release said.

It is mentionable that U-jin Led Co (BD) Ltd, an electronics and electrical goods manufacturing company of the same owner, has been operating business in Chattogram EPZ since 1989.

They are going to set up this company as their second venture in Mongla EPZ being pleased with the services and overall investment climate of BEPZA.

BEPZA member (finance) Nafisa Banu, Secretary Md Zakir Hossain Chowdhury, General Manager (public relations) Nazma Binte Alamgir, General Manager (investment promotion) Md Tanvir Hossain, and General Manager (enterprise services) Md Khorshid Alam, among others, were present at the signing ceremony.