News
Hongxing Hongda Will Establish a New Plant in Bangladesh
2024-01-08 15:53:57
Hongxing Hongda works together with Mingda to invest USD76,410,000 and build a new plant in BEPZA Economic Zone,Mirsharai Chittagong,Bangladesh.Establishing plant in this area will will create more than 500 employment positions for local citizens.
The Executive Chairman, Major General Mr Abul Kalam Mohammad Ziaur Rahman,BSP,NDC,PSC,witnessed the signing ceremony.He congratulated Mr Huang Shangwen on choosing BEPZA as the destination for foreign direct investment.He promised that they will provide various service support for the plant establishment and safe operation.
BEPZA Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Development) Md. Tanvir Hossain and Executive Director (Enterprise Services) Khorshid Alam were present during the signing ceremony.
The BEPZA is the official organ of the Bangladesh government to promote, attract and facilitate foreign investment in the EPZs. Besides, BEPZA as the competent Authority performs inspection & supervision of the compliance of the enterprises related to social & environmental issues, safety & security at work place in order to maintain harmonious labour-management & industrial relations in EPZs. The primary objective of an EPZ is to provide special areas where potential investors would find a congenial investment climate free from cumbersome procedures.
With the change of international trade situation and the strong desire of the Chinese government to achieve eco-friendly development,many enterprises are also facing important challenges of transformation, upgrading and industrial transfer.Many textile enterprises have invested and set up factories in Southeast Asia in order to survive. They transfer some industries and equipment to Southeast Asia, including to Bangladesh, to bring down the production cost and labor cost and enjoy preferential tax treatment for foreign investment locally.
We all know that Bangladesh is one of the most dynamic countries in South Asia and even the world. In recent years, it has enjoyed rapid economic growth, stable social order, remarkable demographic dividend and an improving investment environment year by year.