The New Nation - Internet Edition

BUSINESS REPORT

A Pakistan-Bangladeshi joint venture company M/s. Velox Fashions Limited is going for expansion of their garments industry in the Dhaka Export Processing Zone.

This jointly owned company will enhance their production capacity with additional investment of US$ 2.5 million, including this, the total investment will stand at US$ 4.5 million. At present 365 Bangladeshi engaged in this factory.

This company will also create new job opportunity for additional 500 Bangladeshi with implementation of their expansion programme.

An agreement to this regard was signed between the Bangladesh Export Processing Zones Authority and, the M/s. Velox Fashion Ltd. in BEPZA Complex, Dhaka today (27-02-2008).

A.Z.M Azizur Rahman, General Manager (Investment Promotion) of BEPZA and Mr. Iqbal Ahmed, Managing Director of M/s. Velox Fashions Ltd. have signed the lease agreement on behalf of their respective organisations.

The Executive Chairman of BEPZA and other officials were present on this occasion.