South Korean company to invest $9.39m in economic zone

South Korean company Giant BD Footwear Ltd is going to invest $ 9.39 million to set up a shoe and shoe accessories manufacturing industry in BEPZA Economic Zone (BEPZA EZ).

Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect at BEPZA Complex, Dhaka on Thursday, an official release said.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Kim Byung Jin, Chairman of Giant BD Footwear Ltd signed the agreement on behalf of their respective organisations.

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

This fully foreign owned company will produce annually 20 million pairs of different kinds of shoes/sandals and shoe accessories where 600 Bangladeshi nationals will get employment opportunities.

Among others, BEPZA Member (Engineering) Mohammad Faruque Alam, executive director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment promotion) Md Tanvir Hossain and executive director (Enterprise services) Md. Khorshid Alam were present at the function.