The New Nation - Internet Edition

Business Report

A Bangladeshi company, Vancot Limited, will invest US$14.78 million to expand its garment manufacturing unit in the Karnaphuli Export Processing Zone.

The company will create employment opportunity for 5,927 Bangladeshi workers and 15 foreign nationals, a BEPZA press release said.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Vancot Limited in BEPZA Complex here today.

Md Moyjuddin Ahmed, member (Investment Promotion) of BEPZA and Mridul Chakraborty, Managing Director of Vancot Limited, signed the agreement on behalf of their respective organizations.

Among others, Brig Gen Jamil Ahmed Khan, Executive Chairman, AKM Mahabubur Rahman, member (Finance), Md Shawkat Nabi, Secretary, AZM Azizur Rahman, General Manager (Investment Promotion) and other officials of the BEPZA were present at the signing ceremony.