US company to invest $5.500m in Karnaphuli EPZ

http://www.bssnews.net/newsDetails.php?cat=0&id=103104&date=2010-04-27

US company to invest $5.500m in Karnaphuli EPZ

DHAKA, Bangladesh, April 27 (BSS)- World Ye Apparels (BD) Limited, an American company, will set up a garment manufacturing industry in
the Karnaphuli Export Processing Zone (KEPZ).

The 100 percent foreign-owned company would invest 5.500 million US dollars in setting up the unit, a press release of the BEPZA said here today.

The company will create employment opportunity for 3,215 people, including 40 foreign nationals.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and World Ye Apparels (BD) Limited in BEPZA Complex here today.

Md. Moyjuddin Ahmed, Member (Investment Promotion) of BEPZA, and Bob W. Zhang, Director of the US company, signed the agreement on behalf of their respective organizations.

High officials from both sides were present on the occasion.