Unifa Accessories to invest $ 48.66 m in BEPZA EZ

Unifa Accessories (BD) Co. Ltd., a China–British Virgin Islands owned company, is set to invest US$ 48.66 million to establish a bag and fashion accessories manufacturing industry in the BEPZA Economic Zone (BEPZA EZ) located in Mirsharai, Chattogram.

An agreement to this effect was signed today at the BEPZA Complex, Dhaka between Bangladesh Export Processing Zones Authority (BEPZA) and Unifa Accessories (BD) Co. Ltd.

In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, the agreement was signed by Md. Ashraful Kabir, Member (Investment Promotion), on behalf of BEPZA and Qian Danchu, Chairman of Unifa Accessories (BD), on behalf of the company.

The foreign-owned company will annually produce 28 million pieces of various fashion products including bags, belts, caps, hats, scarves, mufflers, eyewear, and eyeglass frames. This project is expected to generate employment for 2,830 Bangladeshi nationals.

The BEPZA Executive Chairman welcomed Unifa’s investment in Bangladesh, particularly in BEPZA EZ. He assured the company of BEPZA’s full cooperation to ensure smooth business operations and expressed confidence that this Foreign Direct Investment (FDI) would contribute significantly to the country’s socio-economic development.

The signing ceremony was attended by senior BEPZA officials, including Member (Engineering) Md. Imtiaz Hossain, Member (Finance) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam, Executive Director (Public Relations) A.S.M Anwar Parvez, and representatives from Unifa Accessories (BD).

It is noteworthy that BEPZA Economic Zone is the largest venture of BEPZA. So far, 42 companies, including Unifa Accessories, have signed agreements with a total proposed investment of US$ 942.15 million. Among them, four companies have already commenced commercial operations.