Fakir Knitwear Limited, a well-established participant in Bangladesh’s garment, logistics, and agricultural domains, has disclosed intentions to inaugurate a knit composite factory at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram. The endeavor involves a substantial investment of around $45.82 million to solidify the company’s presence while facilitating job creation.

Anticipated to yield approximately 2,000 employment opportunities, this upcoming venture highlights Fakir Knitwear’s unwavering dedication to fostering economic progression.

Having been in operation since 1936, the company’s longstanding involvement across diverse sectors underscores its significance as a notable and multifaceted business entity.

In its quest for expansion, Fakir Knitwear recently formalized an agreement with the Bangladesh Economic Zone Authority (Beza), securing a 15-acre tract of land at BSMSN.

According to Shaikh Yusuf Harun, Beza’s executive chairman, Fakir Knitwears’ strong presence in local and global markets will result in heightened investments and broader product offerings within the economic zone due to their partnership with Beza.

This strategic partnership aligns seamlessly with the company’s track record of establishing cutting-edge facilities and championing sustainability within the industry. Fakir Knitwear has garnered recognition for its conscientious environmentally-friendly practices, both on the domestic and global fronts.

This achievement at BSMSN will be realized by establishing advanced manufacturing units driven by adept human resources and robust research and development capabilities.

The collaborative engagement with Fakir Knitwear is predicted to catalyze augmented investments within the economic zone, further enhancing product diversification.

Beza has actively collaborated with diverse development collaborators to institute central effluent treatment plants at BSMSN, guaranteeing adherence to international standards. Fakir Knitwear’s calculated investment represents a momentous leap forward for the company and the region’s economic advancement.

With its established reputation and historical contributions, the inception of the novel knit composite factory holds the potential to invigorate economic growth, employment prospects, and sustainability in Bangladesh.