Dutch company to invest $10.52m in Bepza economic zone

Checkpoint Systems Bangladesh Ltd-Unit 2, a Netherlands-based company, will invest $10.52 million to establish a garment accessories manufacturing factory at the economic zone of the Bangladesh Export Processing Zones Authority (Bepza).

The firm signed an agreement with the Bepza to this end today, a press release said.

Ali Reza Mazid, member for investment promotion at the Bepza, and Kumudu Athuruliya, general manager for South Asia at Checkpoint Systems, inked the deal at the BEPZA Complex in Dhaka.

The company has set a target to produce 1,319 million units of hang tags, tickets, stickers and labels annually.

Some 274 Bangladeshi nationals will get jobs at the factory, according to the press release.

Checkpoint Systems Bangladesh Ltd-Unit 2 is the second factory of the Netherlands-based company in the industrial zones operated by the Bepza.

The first one, Checkpoint Systems Bangladesh Ltd, has been operating in the Adamjee Export Processing Zone since 2009. It, however, started its operation in the Dhaka Export Processing Zone 15 years ago.

Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of the Bepza, Mohammad Faruque Alam, member (engineering), Nafisa Banu, member (finance), Nazma Binte Alamgir, executive director for public relations, Md Tanvir Hossain, executive director for investment promotion, and Md Khorshid Alam, executive director for enterprise services, were present during the signing ceremony, the press release added.