What's Happening?
Chinese company October4128 (BD) Ltd has announced a $19.72 million investment to establish a high-end garments manufacturing factory at the Bepza Economic Zone (BEPZA EZ) in Mirsharai, Chattogram. The agreement was signed at the Bepza Complex in Dhaka,
with Major General Mohammad Moazzem Hossain, executive chairman of Bepza, present. The factory will produce approximately 3 million pieces of high-end apparel annually, including ski, snow sports, and hunting gear, as well as insulated winter coats and other specialized clothing. This project is expected to create employment opportunities for 2,788 Bangladeshi nationals. Bepza EZ has become a significant investment destination, with 49 companies committing to invest a total of around $1.08 billion.
Why It's Important?
This investment highlights the growing attractiveness of the Bepza Economic Zone as a hub for foreign investment, particularly in the apparel sector. The establishment of this factory is expected to boost local employment significantly, providing nearly 3,000 jobs. It also underscores the strategic importance of Bangladesh in the global apparel supply chain, particularly for high-end and specialized garments. The investment by a Chinese firm reflects the strengthening economic ties between Bangladesh and China, which could lead to further economic collaboration and development in the region.
