Hong Kong-based Must Group has signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to set up a garment industry in Bangladesh’s Ishwardi Export Processing Zone.
This company which will produce the garments will be known as M/s Hoi Bun Fashions Ltd. It will be the 4th industrial unit in EPZs under Must Group and is a sister concern of Lenny Fashion Ltd. of Dhaka EPZ, the BEPZA said.
Hoi Bun Fashions Ltd will invest $30 million for setting up the plant with annual production capacity of 10.4 million pieces different types of garments. Hoi Bun Fashions will create employment opportunity for 3755 Bangladeshi nationals, the BEPZA said.