Chinese apparel firm to invest $8.7mn in Ishwardi EPZ

IHM Garments and Textile Company Limited, a Chinese company, is going to establish a garments manufacturing industry in Ishwardi EPZ with an investment of $8.7 million. 

An agreement to this effect was signed on Monday between Bangladesh Export Processing Zones Authority (BEPZA) and IHM Garments and Textile Company Limited at BEPZA Complex in the city, BSS reports citing a press release.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Yu Binbin, Chairman of IHM Company signed the agreement on behalf of their respective organizations. 

Major General Abul Kalam Mohammad Ziaur Rahman, Executive Chairman of BEPZA, witnessed the signing ceremony.

This fully foreign-owned company will produce annually 2.6 million pcs of woven tops and 10.6 million pcs of knit tops and Pants for ladies, kids and men. IHM Garments and Textile Company Limited will create employment opportunities for 2,457 Bangladeshi nationals.

Among others, Member (Engineering) Md Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md Tanvir Hossain, Executive Director (Enterprise Services) Md. Khorshid Alam of BEPZA was present during the signing ceremony.