Chic Wings (BD) Lingerie Co Ltd, a Singapore-China joint venture company, will invest $18 million to set up a garment manufacturing factory inside Bepza Economic Zone (Bepza EZ).

The company plans to annually produce 30 million pieces of briefs, undergarments, slips, boxers, shorts, camisoles, bras and vests, Bangladesh Export Processing Zones Authority (Bepza) said in a statement.

The factory will create employment opportunities for 3,000 Bangladeshi nationals, according to the statement.

Md Ashraful Kabir, member for investment promotion of Bepza, and Lijuan Chen, managing director of Chic Wings (BD), signed an agreement in this regard at the Bepza Complex in Dhaka today.

Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza, thanked Chic Wings (BD) for investing in Bangladesh, particularly in the Bepza EZ.

Rahman also assured the company of providing all necessary support for smooth business operations.

Bepza EZ, the largest venture of Bepza, is located in Chattogram's Mirsharai.

Thirty-six companies, including Chic Wings (BD), have so far signed agreements to set up factories in the zone, with a total proposed investment of $868.5 million.

Among them, three companies have already commenced commercial operations.