Unifa Accessories (BD) Co. Ltd., a China–British Virgin Islands owned company, is set to invest $48.66 million to establish a bag and fashion accessories manufacturing industry in the BEPZA Economic Zone (BEPZA EZ) in Mirsharai, Chattogram.

An agreement to this effect was signed on Thursday at the BEPZA Complex, Dhaka, between Bangladesh Export Processing Zones Authority (BEPZA) and Unifa Accessories (BD) Co. Ltd.

In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman the agreement was signed by Md. Ashraful Kabir, member (Investment Promotion), on behalf of BEPZA, and Qian Danchu, chairman of Unifa Accessories (BD), on behalf of the company.

The foreign-owned company will annually produce 28 million pieces of various fashion products, including bags, belts, caps, hats, scarves, mufflers, eyewear, and eyeglass frames. This project is expected to generate employment for 2,830 Bangladeshi nationals.

The BEPZA executive chairman welcomed Unifa’s investment in Bangladesh, particularly in the BEPZA EZ.

He assured the company of BEPZA’s full cooperation to ensure smooth business operations.

He expressed confidence that this Foreign Direct Investment (FDI) would make a significant contribution to the country’s socio-economic development, according to a press release.