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Chinese zipper manufacturer to invest $19.97 mn in Bangladesh's BEPZA

27 Apr '24

2 min read

Chinese zipper manufacturer to invest $19.97 mn in Bangladesh's BEPZA

SBS Zipper signs agreement with BEPZA EZ. Pic: BEPZA

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SBS Zipper Bangladesh Co Ltd, a Chinese zipper manufacturer, is investing $19.97 million to establish a garment accessories factory in the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone.
Signed recently in Dhaka, this initiative aims to bolster Bangladesh's foreign investment appeal.
The factory will produce 271 million pieces yearly.

Chinese zipper manufacturer SBS Zipper Bangladesh Co Ltd has announced an investment of $19.97 million to establish a garment accessories manufacturing facility in the Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone (BEPZA EZ). The agreement was recently signed at the BEPZA Complex in Dhaka, marking a notable advancement in Bangladesh's efforts to attract foreign investment.

The new facility promises substantial economic benefits, with plans to produce 271 million pieces annually, including a range of products such as metal zippers, nylon and plastic zippers, as well as various zipper parts and buttons. This venture is set to generate employment opportunities for over 2,063 Bangladeshis, BEPZA said in a press release.

The signing ceremony was attended by notable figures including BEPZA executive chairman Major General Abul Kalam Mohammad Ziaur Rahman, and Weifang Shen, CEO of SBS Zipper Bangladesh. Ali Reza Mazid, BEPZA Member for Investment Promotion, also played a pivotal role in the proceedings.

Expressing his gratitude, Major General Rahman thanked SBS Zipper Bangladesh for their decision to invest in the BEPZA EZ and assured full support from BEPZA to facilitate smooth operations and export activities.

Member (Engineering) Mohammad Faruque Alam, member (Finance) Md. Ashraful Kabir, executive director (Admin) A N M Foyzul Haque, executive director (Investment Promotion) Md. Tanvir Hossain, executive director (Enterprise Services) Md. Khorshid Alam and executive director (Public Relations) A.S.M Anwar Parvez and the representatives of the company were present during the signing ceremony.

Fibre2Fashion News Desk (KD)

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