VIP Industries Ltd invests in Mongla EPZ
Reported by: UNBconnect
Reported on: May 14, 2012 07:46 pm
Reported in: Business
Dhaka, May 14 (UNB) – Indian company VIP Industries Ltd has set up a new company in Bangladesh in the name of VIP Industries Bangladesh Private Ltd.
They will set up a bag and luggage manufacturing industry in Mongla Export Processing Zone, said a release.
This fully foreign owned company will invest 13.14 million US dollar in setting up of their unit and will manufacture bag and luggage items.
The company will also create employment opportunity for 436 Bangladeshi nationals.
An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority (BEPZA) and VIP Industries Bangladesh Private Ltd in BEPZA Complex, Dhaka on Sunday.
Sayed Nurul Islam, Member, (Investment Promotion), BEPZA and Ajay K Pathak, Director of VIP Industries Bangladesh Private Limited signed the agreement on behalf of their respective organizations.