Sino-Malaysian firm to invest $14.55 million in Bepza EZ

Sino-Malaysian firm Vernon & Oliver Furniture Company Limited will invest $14.55 million at the economic zone of Bangladesh Export Processing Zones Authority (Bepza) to establish a mattress manufacturing industry.

The company will produce 1.8 lakh pieces of spring mattress and foam mattress annually and will create job opportunities for 600 Bangladeshi nationals, the Bepza said in a statement today.

Ali Reza Mazid, member for investment promotion at Bepza, and Lee Wai Choong, managing director of Vernon & Oliver Furniture Company Limited, signed an agreement in this regard at Bepza Complex in Dhaka today in the presence of Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza.

The Bepza authorities have so far approved 24 enterprises, today's mattress factory, to establish industries in Bepza economic zone and most of them will produce diversified products.

The total proposed investment of these enterprises is $510.2 million.