Chinese firm to invest $30 million in textile factory in Mirsarai
Huaran Tex Company Limited, a Chinese-owned entity, has signed a land lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to establish a textile factory within the BEPZA Economic Zone in Mirsarai, Chittagong. The investment for this project is set at three million US dollars, equivalent to approximately 366 crore Bangladeshi Taka. The agreement was recently finalized at the BEPZA Complex in Dhaka. The proposed factory will be constructed on a 36,000 square meter plot of land. Upon full operationalization, the facility is projected to produce 24,000 tons of yarn and 20 million meters of grey woven fabric annually. This venture is expected to create employment opportunities for 580 Bangladeshi citizens. BEPZA's Member (Investment Promotion) Md. Tanvir Hossain and Huaran Tex Company's Managing Director Bin Wang signed the agreement on behalf of their respective organizations. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain reiterated BEPZA's commitment to providing a secure, modern, and business-friendly environment for investors and pledged full support for the company's successful operations.
This agreement signifies a direct foreign investment in Bangladesh's textile sector, aligning with the nation's export-oriented industrial strategy. The establishment of the Huaran Tex Company factory introduces new production capacity and job creation, contributing to the economic development goals of the Mirsarai region. From a systemic perspective, such investments highlight the ongoing global reconfiguration of manufacturing supply chains, particularly in textiles, driven by cost efficiencies and market access considerations. The long-term implications will depend on factors such as the integration of local labor and resources, adherence to environmental and labor standards, and the broader geopolitical landscape influencing international trade and investment flows over the next decade.
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