Chinese company Unicorn Handbag Limited will invest $21.85 million to set up a carry bag and luggage manufacturing industry in the BEPZA Economic Zone (BEPZA EZ). Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect at the BEPZA Complex in Dhaka today.

In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, BSP, ndc, psc, Member (Investment Promotion) of BEPZA Mr. Md. Ashraful Kabir and Managing Director of Unicorn Handbag Limited Mr. Zheng Shuyong signed the agreement on behalf of their respective organizations, reads a press release.

This Chinese company will produce 1.7 million pieces of backpacks and handbags, wallets, bags, caps, belts, and luggage annually, and 2000 Bangladeshi nationals will get employment opportunities.

Welcoming Unicorn Handbag Limited, the BEPZA Executive Chairman, hoped that their investment would significantly impact Bangladesh’s foreign direct investment (FDI) landscape.

Member (Engineering) Mohammad Faruque Alam, Member (Finance) A N M Foyzul Haque, Executive Director (Enterprise Services) Md. Khorshid Alam & Executive Director‍ Moshiuddin Bin Mesbah were present during the signing ceremony.