Chinese company to invest $8.07 million in Bepza Economic Zone

Chinese company KPST Shoes (BD) Co Limited will invest $8.07 million in Bepza Economic Zone.

KPST Shoes will set up a shoe accessories manufacturing industry to produce 30 million pairs of insole, outsole and midsole, and 0.3 million cubic meters of ethylene-vinyl acetate (EVA) and Polyurethane (PU) foams.

To this effect, Ali Reza Mazid, investment promotion member of Bangladesh Export Processing Zones Authority (Bepza), and LUO Zhexian, managing director of KPST Shoes, signed an agreement at Bepza office in Dhaka today.

Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was also present, Bepza said in a press release.

The investment will create employment opportunities for 2,650 Bangladeshi nationals. Besides, the country's dependency on the import of shoe accessories will also decrease, it said.