Yun Sheng BD Co Ltd, a Chinese firm, plans to invest $89 million in setting up a composite factory within the Mongla Export Processing Zone (EPZ).
This initiative marks the first factory of its kind within the Mongla EPZ and stands as the highest proposed investment by a single entity, as per a Bangladesh Export Processing Zones Authority (Bepza) press release.
The factory is anticipated to manufacture a range of textiles, garments, and accessories. Specifically, Yun Sheng BD will focus on producing woven or knitted fabrics, padding, quilts, printed and embroidered fabrics, as well as various types of tapes.
With this substantial investment, the company aims to create employment opportunities for 5,421 Bangladeshi nationals, offering a significant boost to the local workforce.
Today, Bepza formalized an agreement with Yun Sheng BD, solidifying their commitment to this venture.
The agreement was inked by Ali Reza Mazid, an investment promotion member representing Bepza, and Ji Lai Yang, the managing director of Yun Sheng BD.