Singapore-China-owned company Chic Wings to invest $18m in BEPZA EZ

Chic Wings (BD) Lingerie Co Limited, a Singapore-China-owned company, is set to 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 Dhaka on Tuesday.

In the presence of BEPZA Executive Chairman Maj Gen Abul Kalam Mohammad Ziaur Rahman, Member (Investment Promotion) of BEPZA Md Ashraful Kabir and Managing Director of Chic Wings (BD) Lijuan Chen signed the agreement on behalf of their respective organisations, read a press release.

This 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 Bangladesh nationals.

The BEPZA executive chairman thanked Chic Wings (BD) for investing in Bangladesh, particularly in the BEPZA EZ, and 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) ANM Foyzul Haque, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam, Executive Director (Admin) ASM Zamshed Khondaker, and Executive Director (Public Relations) ASM 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 $868.5 million. Among those, three have already commenced commercial operations.