Korean company to invest $10m in BEPZA for business expansion

Even as the world is in economic recession, a South Korean company is going to expand its business with the investment of US$ 10 million more in Bangladesh Export Processing Zone Authority, or BEPZA.

Giant BD Co Ltd, fully owned by South Korea, will establish a new unit of shoe component (injection phylon Midsole) & sports sandal manufacturing industry in Cumilla EPZ, according to a BEPZA press release received on Sunday.

This company will create new employment opportunity for 500 Bangladeshi nationals, the release said.

An agreement to this effect was signed between BEPZA and Giant BD Co Ltd at BEPZA Complex in Dhaka recently.

Mr Mohammad Faruque Alam, member (engineering) of BEPZA and Kim Byung Jin, managing director of Giant BD Co Ltd, signed the deal on behalf of their respective organisations.

BEPZA Executive Chairman Major General S M Salahuddin Islam, General Manager (public relations) Nazma Binte Alamgir, General Manager (investment promotion) Md Tanvir Hossain, among others, were present on the occasion.