STAR BUSINESS REPORT

Unifa Accessories (BD) Co Ltd, a China-British Virgin Islands-owned company, will invest $48.66 million to set up a bag and fashion accessories manufacturing plant in the Bepza economic zone (Bepza EZ) in Mirsharai, Chattogram.

An agreement was signed yesterday at the Bepza Complex in Dhaka between the Bangladesh Export Processing Zones Authority (Bepza) and Unifa Accessories, according to a press release.

The foreign-owned venture plans to manufacture 28 million pieces of fashion items annually, including bags, belts, caps, hats, scarves, mufflers, eyewear, and eyeglass frames. The project is expected to create 2,830 jobs for Bangladeshi nationals.

In the presence of Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, the deal was signed by Md Ashraful Kabir, member (investment promotion) of Bepza, and Qian Danchu, chairman of Unifa Accessories (BD).

Welcoming the investment, the Bepza executive chairman assured the investor of full support for smooth business operations. The project will play a significant role in Bangladesh’s socio-economic development, he said.

So far, 42 companies have signed agreements to invest a total of $942.15 million in the Bepza EZ, with four already in commercial operation.

Senior Bepza officials, including Member (engineering) Md Imtiaz Hossain, Member (finance) ANM Foyzul Haque, Executive Director (investment promotion) Md Tanvir Hossain, Executive Director (enterprise services) Md Khorshid Alam, and Executive Director (public relations) ASM Anwar Parvez attended the signing along with representatives from Unifa.