South Korean company OCF Co. Limited is set to invest $8.06 million in Mongla Export Processing Zone (Mongla EPZ).

The company will establish a tent manufacturing, tent accessories, camping furniture, furniture accessories, and bag industry.

The Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company in this regard on Wednesday, August 6, at the BEPZA Complex in Dhaka.

Md Ashraful Kabir, Member (Investment Promotion) of BEPZA, and Hyun Gil Kim, Chairman of OCF Co. Ltd., signed the agreement on behalf of their respective organisations. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, witnessed the signing ceremony.

The company plans to produce tents, tent furniture accessories, camping chairs and tables, aluminum, carbon, ski and trekking poles, mountain and walking sticks, bed cots, stands, pet furniture, arrow, and all types of bags that will create employment opportunities for 820 Bangladeshi nationals.

The Executive Chairman said that BEPZA always encourages investment in producing diversified products. As this is the company’s second project under BEPZA, he thanked OCF Co. Ltd. for their continued trust in BEPZA and requested them to act as an ambassador for bringing more South Korean investment to Bangladesh, especially in the EPZs.

He also highlighted BEPZA`s commitment to providing a secure and supportive environment for investors.

Hyun Gil Kim thanked BEPZA for its support and expressed hope that they would be able to start production by next year.

The signing ceremony was attended by senior BEPZA officials, including Member (Engineering), Md Imtiaz Hossain, Member (Finance), A N M Foyzul Haque, Executive Director (Investment Promotion), Md Tanvir Hossain and Executive Director (Public Relations) ASM Anwar Parvez, as well as representatives of the enterprise.

Source: UNB