Makalot (BD) Ltd, a Taiwanese apparel company, has invested $17 million in Bangladesh’s Bay Economic Zone, a private economic zone. At the Bangladesh Economic Zone Authority-BEZA office on Tuesday, a contract to build a six-story factory on 10,000 square metres of land and lease it to Makalot was signed.
The 10,000 square metre factories that Makalot (BD) Ltd. to construct will produce clothing such as active sportswear, sleepwear, leisure wear, and outdoor attire.
The contract was signed by Makalot Bangladesh Limited Chairman Chou Hsin-Peng and Bay Economic Zone Managing Director Ziaur Rahman. The business said that a $1.7 million fresh investment would be made in Konabari, Gazipur. Around 1,500 jobs are anticipated to be created by the factory in the Bay Economic Zone.
Bangladesh, according to Chou Hsin-Peng, has a favourable business environment. Future investments are something they are interested in.
Since 1990, Makalot has been coordinating the global supply chain for the export of undergarments, sleepwear, skirts, shirts, pants, and shorts to the US market. According to officials, Macalt’s sales in 2022 exceeded $1 billion.
180 million clothes are currently produced each year by 18 companies in China, Cambodia, Indonesia, the Philippines, and Vietnam. There are more than 34.000 employees at work.
According to Ziaur Rahman, managing director of the Bay Economic Zone, several Taiwanese businesses are showing interest in investing because of Bangladesh’s dense population and affordable labour market. They anticipate political stability and ongoing policies in that scenario.
He added that the industry’s establishment will get underway fast thanks to this new investment business. The Bay Economic Zone will become known as a Taiwanese investment destination if this Taiwanese investment continues.
Sheikh Yusuf Harun, the executive chairman of BEZA, claimed that BEZA had succeeded in fostering a climate in Bangladesh that was fair to investments. One of the most beneficial functions in encouraging company investment is being played by the Private Economic Zone. He asked the investor to immediately establish the sector while adhering to all regulations.
