Bangladesh is set to receive a significant boost in its textile and garment industries, as Handa Industries Limited, a prominent China-based apparel manufacturer known for its high-quality knitted textiles and dyeing processes, announces a US $ 150 million investment in the country.
The investment breakdown reveals that US $ 100 million will be designated for the textile and dyeing sectors within an economic zone, while the remaining US $ 50 million will be allocated to the garment industry within an export processing zone.
The memorandum of understanding (MoU) outlining this investment was signed by Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment and Development Authority (Bida) and the Bangladesh Economic Zones Authority (Beza), and Heng Zeli, chairman of Handa (Dhaka) Textile Company Ltd. The signing took place on the third day of the Bangladesh Investment Summit at the InterContinental Dhaka, with senior officials from both organizations in attendance.
This substantial investment underscores the growing collaboration between China and Bangladesh in the textile sector, promising to enhance production capabilities and create job opportunities within the country.
