Business

Sino-Bangla JV To Invest US $15.63 Mln In Ishwardi EPZ

Jinqiu Global Textile Bangladesh Ltd., a China-Bangladesh joint venture company to set up a new manufacturing unit in Ishwardi Export Processing Zone (IEPZ), Bangladesh with an investment of US$ 15.63 million. To this effect, Bangladesh Export Processing Zones Authority (BEPZA) and Jinqiu Global Textile Bangladesh Ltd, signed an agreement at at BEPZA Complex, Dhaka on 6 October 2022. In presence of the Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, BEPZA & Jinqiu Global Textile signed the agreement. Ali Reza Mazid of BEPZA and Josim Uddin Ahmed, Managing Director of Jinqiu Global Textile signed the agreement on behalf of their respective organisations. This joint venture company will manufacture annually 250 million meters & 2 million Cones of different types of garments accessories products and create employment opportunity for 981 Bangladeshi nationals. Among others, Mohammad Faruque Alam - Executive Director (Public Relations) Nazma Binte Alamgir, Md. Tanvir Hossain - Executive Director (Investment Promotion), Md. Khorshid Alam - Executive Director (Enterprise Services) and He Ping – Director of Jinqiu Global Textile, along with other representative were present during the signing ceremony.