Japanese co to invest $5.6 million in Bangladesh

CG Fashions Limited, a Japanese company, will set up a readymade garment industry in the Adamjee Export Processing Zone investing $5.6 million.

The foreign-owned company will also create employment opportunity for 1,399 Bangladeshi nationals, said a news release.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and CG Fashions Limited at BEPZA Complex on Monday.

BEPZA member (investment promotion) Md Moyjuddin Ahmed and CG Fashions Limited managing director Shinichi Okuda signed the agreement on behalf of their respective sides.

BEPZA executive chairman ATM Shahidul Islam and other senior officials, among others, were present at the signing ceremony.

Source: New Age