The New Nation - Internet Edition

BUSINESS REPORT

Two Taiwanese shoe companies are going to set up shoe manufacturing industries at Karnaphuli Export Processing Zone (KEPZ) by investing US$102 million (about Taka 697 crore).

These two companies will create employment opportunioties for more than 10,200 Bangladeshi people.

Messrs Genfort Shoes (BD) Limited, one of the biggest shoe companies of Taiwan, will set up a shoe manufacturing industry in the KEPZ.

Messrs Xin Chang Shoes (BD) Limited, another biggest shoe company of Taiwan, is going to set up a shoe manufacturing industry in the same EPZ.

Messrs Genfort Shoes (BD) Limited, a 100 per cent foreign owned company will invest about US$52 million or Taka 357 crore in their plant built on 14 plots of KEPZ and will produce 50 lakh pairs of shoes annually. The company will also create employment opportunity for 5,135 Bangladesh and 39 foreign nationals.

On the other hand, Messrs Xin Chang Shoes (BD) Limited, another 100 per cent foreign owned company will invest about Taka 340 crore in their plant built on 16 plots of KEPZ and will produce annually 50 lakh pairs of shoes. The company will also create employment opportunity for 5149 Bangladesh and 30 foreign nationals.

Two separate agreements to these effect were signed between the Bangladesh Export Processing Zones Authority and M/s Genfort Shoes (BD) Limited and BEPZA and Messrs Xin Chang Shoes (BD) Limited at BEPZA Complex, Dhaka on Thursday.

Member (Investment Promotion) of BEPZA and Chairman of Messrs Genfort Shoes (BD) Limited and the representative of Messrs Xin Chang Shoes (BD) Limited signed the agreements on behalf of their respective organisations.

Officials of BEPZA and the companies were present on the occasion.