S Korea to invest $6m in Mongla EPZ
Economic Reporter :
South Korean company Hwashin (BD) Limited will invest US$ 6 million to establish a cosmetics accessories industry in Mongla Export Processing Zone (EPZ).
In this regard, an agreement was signed on Monday between the Bangladesh Export Processing Zones Authority (BEPZA) and Hwashin (BD) Limited at BEPZA Complex in the city, said a press release.
Member (Investment Promotion) of BEPZA Zillur Rahman and Managing Director of Hwashin (BD) Limited Kim Jongbo signed the agreement on behalf of their respective organizations.
BEPZA Executive Chairman Major General S M Salahuddin Islam, Member (Engineering) Mohammad Faruque Alam, General Manager (Public Relations) Nazma Binte Alamgir, General Manager (Investment Promotion) M Tanvir Hossain and Deputy General Manager (Investment Promotion) of BEPZA Abdullah Al Mahbub were present at the signing ceremony.
This fully foreign owned company will produce annually around 300 million pcs of cosmetics makeup brush, cosmetics makeup sponge, cosmetics box, cosmetics container, mirror, cosmetics bag, nail clippers, nail polishing paper, tweezers, eyelash, curler and other accessories.
Hwashin (BD) Limited will create employment opportunity for 1480 Bangladeshi nationals.