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BEPZA to spin success story thru AWL venture
03
Jan '08
In order to encourage rapid economic growth in the country and attract foreign investments, Bangladesh has adopted a friendly investment policy. The Government, through Bangladesh Export Processing Zones Authority (BEPZA) has been promoting, attracting and facilitating foreign investments.

One of the recent investments has come from Accessories World Limited (AWL), the US – Canada based company, for setting up a garment accessory manufacturing plant in the Adamjee Export Processing Zone (EPZ), located in Narayanganj, Dhaka, with an investment of US $5.2 million.

According to sources, the accord was inked between the Bangladesh Export Processing Zones Authority (BEPZA) and Accessories World Limited in BEPZA Complex on January 1. Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Ahsan Khan Chowdhury, Deputy Managing Director of Accessories World Limited, was present during the ceremony.

The source from BEPZA informed Fibre2fashion that this will be a 100 percent foreign invested facility, which is expected to produce around 800 million pieces of garment annually. Here, hanger, sizer stick, hanger sticker, house hold items and pp band, among other articles will be manufactured. The company is expected to create occupation for nearly 288 Bangladeshis and three foreign nationals.

The BPEZA expert also said that Pran Group's efforts to invite Accessories World Limited to put in investments here in Adamjee EPZ, is definitely going to enhance the exports of Bangladesh. Presently, the region exports garments worth $2.063 billion and expects to reach $2.50 billion this year.

Fibre2fashion News Desk - India

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