Bangladeshi company M/s. CIP Limited is going to set up a bag & luggage manufacturing industry in Mongla EPZ with an investment of US$ 6.23 million. They signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex, Dhaka on 15 November 2023.
Mr. Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Chairman of CIP Limited Mr. M.A Hanif Bhuiyan signed the agreement on behalf of their respective organizations. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing ceremony.
BEPZA Executive Chairman thanked CIP Limited for investing in Mongla EPZ. He said that two other luggage and bag manufacturing groups are successfully operating their business in Mongla EPZ. He hopes that CIP Limited will also successfully run their business in this EPZ.
Expressing his optimism M.A Hanif Bhuiyan, Chairman of CIP Limited said that they will start their commercial production by November 2024 after completing the construction of the factory building within the next 6-8 months. He said that they will use Mongla Port instead of Chittagong Port for import–export activities which will be more cost and time effective for them.
CIP Limited will produce annually 9.5 million pieces of backpack, soft luggage, hard luggage, duffle, trolley, school bag and ladies handbag. 1550 Bangladeshi nationals will get employment opportunity in this company.
Among others, Executive Director (Administration) A N M Foyzul Haque, Executive Director (Investment Promotion) Md. Tanvir Hossain and Executive Director (Public Relations) A.S.M. Anwar Parvez were present during the signing ceremony.
The demand has increased to invest in Mongla EPZ after the launching of the Padma Bridge & vibrant operations of Mongla Port. Mentionable, 31 industries has been operating their business in Mongla EPZ where 15,062 Bangladeshi nationals are employed.
