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Chinese Company to Invest $6M in Bepza Economic Zone

Economic Tag: FDI

Chinese company Jibin Technology (BD) has announced a $6 million investment to establish a shoe accessories manufacturing factory in the Bepza Economic Zone (EZ) of Bangladesh. The agreement was signed with the Bangladesh Export Processing Zones Authority (Bepza) to solidify the partnership. The factory will have the capacity to produce six million pairs of shoe accessories annually, including outsoles, midsoles, injection parts, and various components. The project is expected to create employment opportunities for 195 Bangladeshis initially. Construction work is anticipated to begin within six months, fulfilling the requirement of starting construction within one year. Bepza currently oversees eight operational Export Processing Zones, and the upcoming economic zone in Chattogram is set to start production this year. The investment from Jibin Technology (BD) and other companies is projected to reach $400 million, contributing to the production of diverse products, including traditional readymade garments.

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