Dhaka, Apr 09 (V7N) – Handa Industries Limited, a renowned China-based garment manufacturer, is set to invest $150 million in Bangladesh, marking a significant step in the country’s growing textile and garment sectors. The investment deal was formalized with the signing of a memorandum of understanding (MoU) between Bangladesh Investment Development Authority (BIDA) and Bangladesh Economic Zone Authority (BEZA), alongside Handa (Dhaka) Textile Company Limited.

The MoU was signed on Wednesday (April 9) at a hotel in the capital, with Chowdhury Ashiq Mahmud Bin Harun, Executive Chairman of BIDA and BEZA, and Heng Jelli, Chairman of Handa (Dhaka) Textile Company, representing their respective organizations.

As part of the agreement, Handa Industries will allocate $100 million to invest in textile and dye processing under the Bangladesh Economic Zone and $50 million to develop the garment industry under the Export Processing Zone.

Handa Industries, which specializes in high-quality knit fabrics, dye processing, and garment production worldwide, aims to enhance Bangladesh’s position in the global textile and garment manufacturing market.

The signing ceremony took place during the ongoing Bangladesh Investment Summit, which began on April 7. This four-day conference, designed to promote foreign investment, has seen the participation of over 600 investors from 40 countries. The event has highlighted the importance of long-term trade licenses and featured discussions about how to attract sustainable foreign investment into Bangladesh’s economic zones.

In addition to the summit, foreign investors have also visited special economic zones outside Dhaka. Notable visits include a trip to the National Economic Zone in Mirsarai, Chittagong on April 7 and the Japanese Economic Zone in Araihazar, Narayanganj on April 8.

This growing interest from global investors like Handa Industries highlights Bangladesh's expanding role as a key player in the global textile and garment industries, as well as its potential for economic growth and development in the coming years.

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