Hong Kong firm to invest $30m in Ishwardi EPZ

Hong Kong-based Must Group will set up a garment manufacturing unit in Ishwardi Export Processing Zone, its fourth in Bangladesh.

The fully foreign-owned company, Hoi Bun Fashions Ltd, will be established with an investment of $30 million, Bangladesh Export Processing Zones Authority said in a statement.

Hoi Bun Fashions will have a production capacity of 10.4 million pieces of garment items a year, and will create employment opportunities for about 3,750 Bangladeshis.

An agreement to set up the new unit was signed at the Bepza Complex in Dhaka yesterday.

Abdul Halim Molla, member (investment promotion) of Bepza, and Waseem Mohd Siddiqui, a director of Hoi Bun Fashions, signed the deal, while Major General Mohd Habibur Rahman Khan, executive chairman of Bepza, was also present.