Chinese company to invest $50m in Bepza economic zone

Chinese company Venus Beauty Ltd is going to set up a hair fashion accessories manufacturing industry in Bepza Economic Zone with an investment of $50 million.

This fully foreign-owned company will produce annually 226.09 million pieces of fashion accessories, plastic comb, mirror, headband, ponytailor and ponyband.

Around 4,000 Bangladeshi nationals will get employment opportunities in this factory, Bangladesh Export Processing Zones Authority (Bepza) said in a statement today.

Venus Beauty has another diversified product manufacturing factory named Tung Hing (BD) Manufacturing Ltd. in Cumilla Export Processing Zone.

Nafisa Banu, member (finance) of Bepza, signed a deal with AMM Shamsuddin Chowdhury, executive consultant of Venus Beauty Ltd, in this regard at Bepza Complex in Dhaka today.

Executive Chairman of Bepza Major General Abul Kalam Mohammad Ziaur Rahman attended the signing ceremony along with Executive Director (Administration) Md Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam and Project Director of Bepza Economic Zone Md Hafizur Rahman.

Before this, Bepza signed lease agreements with seven other companies to set up industry in Bepza Economic Zone.

The companies will invest $120.11 million, creating job opportunities for 34,952 Bangladeshi nationals.