This will create employment for 3,500 Bangladeshis
Roulin (BD) Limited, a Japanese apparel manufacturing company, is all set to expand their business in the Ishwardi Export Processing Zone (EPZ).
The enterprise signed an agreement to this effect with the Bangladesh Export Processing Zones Authority (BEPZA) on Wednesday, reads a press release.
Matsuoka Corporation, a major player in the wholesale sector of Japan, recently took over the majority shares of the company.
Now the new shareholder will expand the existing operations of Roulin (BD) by investing $25 million, creating employment for 3,500 Bangladeshis.
Roulin (BD) has been operating their business in IEPZ since 2011 and has so far invested $4.53 million.
In presence of the BEPZA Executive Chairman Major General Md Nazrul Islam, BEPZA Member of Investment Promotion Md Mahmudul Hossain Khan and representative of Matsuoka Corporation Osamu Sasaki, on behalf of Roulin (BD), signed the agreement at BEPZA Complex in the capital.
BEPZA is trying its best to attract foreign and local investment in the EPZs even during the Covid-19 pandemic, the press release adds.
Investment-friendly policies of the government and favourable investment atmosphere of EPZs are encouraging Japanese investors including others to invest in these EPZs, the release further reads.
At present, 31 Japanese enterprises have invested $525 million in the EPZs and created employment opportunities for 13,500 Bangladeshi nationals.
Among others, BEPZA Member of Engineering Mohammad Faruque Alam, Member of Finance Nafisa Banu, Secretary Md Zakir Hossain Chowdhury, General Manager of Public Relations Nazma Binte Alamgir, and General Manager of Investment Promotion Md Tanvir Hossain was present at the signing ceremony.
Managing Director of Roulin (BD) Md Mahbubar Rahman also attended the event.