China firm to invest $8m in Bepza EZ

Chinese company KPST Shoes (BD) Company Ltd will invest $8.07 million in Bangladesh Export Processing Zones Authority (Bepza) Economic Zone.

The company will set up a shoe accessories manufacturing industry, from where they have fixed a target to produce 30 million pairs of insole, outsole and midsole, and 0.3 million cubic meters of ethylene-vinyl acetate and Polyurethane foams, a press release said.

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The investment will create employment opportunities for 2,650 Bangladeshi nationals. Besides, the country's dependency on the import of shoe accessories will also decrease.

Ali Reza Mazid, investment promotion member of the Bepza, and LUO Zhexian, managing director of KPST Shoes (BD) company Ltd, signed an agreement at the Bepza office in Dhaka yesterday to this end.

Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of Bepza, was present.