The Good Fashion Fund (GFF), a Netherlands-based investment fund promoting sustainable practices in the fashion industry, has made its first investment in Bangladesh. The $1 million funding will support Progress Apparel Ltd.’s investment in a modern in-house washing plant located at the Adamjee EPZ's factory in Narayanganj, Dhaka. The washing plant will be equipped with state-of-the-art washing, drying and hydro machinery selected for its efficient use of water and chemicals, said a media release on Monday (July 03, 2023). Also read: Netherlands lauds Bangladesh’s continued progress despite global uncertainties GFF’s investment - which is structured through Progress Apparels’ holding company in Hong Kong, PDS Ltd. - is enabling the company as a new player in the textile sector, to access international funding whilst promoting sustainable investments. GFF’s investment in the in-house washing plant not only generates savings in water and chemical usage compared to conventional machinery, but also promotes supply chain traceability and transparency as washing is no longer outsourced, and the factory is now well capable of monitoring water, energy and chemical usage and the social well-being of its employees. Limiting transport to and from the outsourced facility will further reduce emissions. Progress Apparels Limited is a ready-made garment producer established in 2017 in Bangladesh. Also read: Bangladesh Film Archive signs MoU with RedOrange of Netherlands to collect 1971 war footage The company is part of PDS Limited. The facility produces woven bottoms for popular international brands and retailers. They have a production capacity in excess of 1,000,000 pieces per annum which is set to increase due to operational efficiencies brought about by the GFF investment. Speaking on the conclusion of the investment, Pallak Seth, Executive Vice Chairman, PDS Limited said, “PDS has more than two decades of expertise in the apparel value chain and established itself as a favoured collaborator for over 200 prominent global retail brands." "As a socially responsible corporate entity and a trusted partner of retailers, we are dedicated to upholding our obligations to both our customers and the environment. Our association with the Good Fashion Fund serves as a testament to PDS's commitment to collaborating with esteemed institutions that prioritize environmental sustainability and circularity.” Also read: BEMEA seeks more collaboration with Netherlands to enhance RMG industry’s competitiveness Sanjay Jain, Group CEO, PDS Limited, “Over the past year, our manufacturing business has achieved a full year of profitability. This investment in the wash plant has not only empowered Progress Apparels to enhance their manufacturing capabilities but also gained the advantage of Good Fashion Fund's knowledge in sustainable practices and cutting-edge technology implementation. This investment allows us to leverage their expertise for the betterment of our operations and overall sustainability goals.” The GFF is initiated by the Laudes Foundation for financing is to be used to invest in impact equipment that deliver both economic growth and good fashion practice. Bob Assenberg, Fund Director of the Good Fashion Fund, spoke on this investment. “We are excited to announce our first investment in Bangladesh and to be associated with a sustainability- oriented manufacturer such as Progress Apparels. This partnership demonstrates that sustainability can go hand-in-hand with economic savings and that it is essential towards transforming the apparel supply chain. We hope industry stakeholders will make concerted efforts in making such investments more accessible in Bangladesh.” Also read: Netherlands, IOM join hands to improve environment, strengthen resilience of Rohingyas, host communities in Cox’s Bazar Anita Chester, Managing Director of Laudes India, commented that “Sustainable manufacturing practices and processes are the need of the hour. They are especially critical in key manufacturing regions like Bangladesh where support to producers is critical to showcase the immense opportunity to decarbonise while ensuring a socially responsible transformation.” The total investment made at the manufacturing facility has been seen as a testimony to PDS’s pledge to make the apparel manufacturing value chain sustainable and environmentally ethical for all stakeholders, the press release said.
Bangladeshi company ASM Packall Export Industry will set up a garments accessories factory at Mongla Export Processing Zone (Mongla EPZ). The company will invest $4.8 million, and 400 Bangladeshi nationals will get employment opportunities at the factory. Read more: Chinese company to invest $ 12.89 million in Mongla EPZ ASM Packall will produce 1 lakh tons of bags, zippers, elastics, tapes, tags, labels, boards, paper bands, photo cards, bar codes, collar stands, and other products annually. Ali Reza Mazid, member (investment promotion) of the Bangladesh Export Processing Zones Authority, and Md Ashraful Alam, managing director of ASM Packall Export, signed an agreement Thursday in Dhaka. Read More: Cotton factory warehouse gutted in Mongla EPZ fire BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman was present at that time.
Chinese company Qinda Outdoor (BD) Limited is going to set up a tent, sleeping bag, and bag manufacturing industry at Ishwardi Export Processing Zone (IEPZ). The company will invest USD $ 12 million and produce 2 million pieces of tent, canopy, bags, sleeping bags, back Pack, tarpaulins, awnings, sunblinds, Mosquito Net, Portable Folding Chair, Recycle Bin, and Umbrella. The company will create employment opportunities for 2973 Bangladeshi nationals. An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Qinda Outdoor (BD) Co. Ltd at BEPZA Complex, in the capital on Tuesday, said a BEPZA press release on Wednesday. Read: BEPZA gives highest priority to workers’ safety, welfare: Law Minister Ali Reza Mazid, Member (Investment Promotion) of BEPZA, and Zhang Yan, representative of Qinda Outdoor signed the agreement on behalf of their respective organizations. Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony. Among others, BEPZA Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Directors Md. Zakir Hossain Chowdhury, Nazma Binte Alamgir, Md. Tanvir Hossain and Md. Khorshid Alam was present during the signing ceremony
Bangladeshi company trendy textiles limited will invest USD $39 million to establish a knit composite textile industry in Dhaka EPZ. The company will produce annually 15 million pieces of T-Shirt, Tank-Top, Polo-Shirt, Sweatshirt, Cotton-CVC Fleece jackets, Trousers, Hoody jackets, Fancy Ladies-Children Wear, and sportswear. The company has signed an agreement to reopen a closed factory of Dhaka EPZ. Read: BEPZA EZ gets $28m more in investment The trendy textiles will create jobs opportunity for 2993 Bangladeshi nationals. Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Nafees Muntasir Khan, Managing Director of Trendy Textiles Limited signed an agreement to this effect on behalf of their respective organizations on Tuesday. BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, witnessed the agreement signing ceremony. Read Chinese company to invest $ 12.89 million in Mongla EPZ Members (Engineering) Mohammad Faruque Alam, Nafisa Banu (Finance) executive directors Nazma Binte Alamgir, Md. Tanvir Hossain and Md. Khorshid Alam, among other, were present at the function.
The customs seized two more large consignments of foreign liquors from Chattogram port Monday as the goods were imported under false declarations and through tax evasions. "We took possession of two more containers loaded with stashes of foreign liquors," Saiful Haque, deputy commissioner of Chattogram Customs House, said. The consignments of liquor were brought to Bangladesh under the declarations of yarn and resin imports by faking import permission and using the names of Mongla EPZ's VIP Industries Bangladesh and Nilphamari Uttara EPZ's Dong Jin Industrial. Also read: Man held with 12 gold bars at Ctg airport The customs seized five containers of foreign liquors in the last three days. Sunday, Chattogram Customs House took possession of one huge consignment of foreign liquors from Chattogram port. Using the name of Dong Jin of Uttara EPZ, the consignment of liquor was brought to Bangladesh under the declaration of yarn import from China by faking import permission. The importers evaded duty of Tk12.45 crore, Saiful said. Saturday, the customs seized two large consignments of foreign liquors from Sonargaon and Narayanganj. Chattogram Customs House seized two containers loaded with huge stashes of foreign liquors during a special drive. Also read: Rab nabs 4, including cop, with Yaba pills in Ctg The consignments of liquor were released at the port under the declarations of textured yarn and machinery imports from China by faking import permission and using the names of Cumilla EPZ's Hashy Tiger and Ishwardi EPZ's BHK Textile, Saiful said. As the shipments contained foreign liquor with high taxable value, importers evaded a duty of Tk24.70 crore.
A fire broke out at a gas pipeline beside the Polwel factory at Adamjee EPZ in Narayanganj on Friday. Fire service sources said the fire broke out at a gas pipeline at 7:35 am. Being informed, eight firefighting units rushed to the spot to bring the situation under control. Also read: Car fire at Chandrima Udyan put out Abdullah Al Arefin, deputy director of Narayanganj fire service said no casualties were reported so far in the fire incident as it broke out at the gas pipeline. Fire Service and Civil Defense head quarter media cell warehouse inspector Anwarul Islam said eight firefighting units are working to douse the fire. Also read: Garment factory catches fire in Gazipur
The National Board of Revenue (NBR) has started the test operation of a hotline to provide services related to ASYCUDA World Systems for customs. The hotline number is 16134. The traders will get this service from May 15, 2022, NBR director (public relations) Syed A Mumen confirmed to UNB on Saturday evening. The Automated System for Customs Data (ASYCUDA) is a computerized system designed by the United Nations Conference on Trade and Development (UNCTAD) in Geneva to administer a country's customs. Read: NBR may miss revenue target Tk 3.30 trillion this year too The service recipients will get any service related to customs calling that hotline number. The hotline will be open every working day from 9 am to 5 pm. The regular call charges will be applicable for getting services on the hotline. Mumen said that through the hotline, the service recipients will be able to know about the existing customs related laws and regulations in the country, including customs related services, necessary information and advice. According to NBR, ASYCUDA World Systems is used to facilitate the import-export process and reduce the risk and generate revenue in the shortest possible time. At present, six customs houses affiliated to the NBR, 26 customs stations, 20 off-docks and EPZs are operating through the ASYCUDA World Systems. Read: NBR works for win-win tax in upcoming budget: Finance Minister Officials working in customs offices, port authorities, Bangladesh Bank, Sonali Bank, Bangladesh Biman, Shipping Agent, C&F Agent, Freight Forwarders, Feeder Operators and various commercial and non-governmental organizations including all commercial banks are using this system.
Chinese Company Xihe Textile Technology Bangladesh Limited will set up a garment manufacturing industry in Mongla EPZ with an investment of USD $12.89 million. The fully foreign owned company will produce annually 5 million pcs of woven garments and 2.3 million pcs Knit garments. Xihe Textile will create employment opportunities for 2892 Bangladeshi nationals. Read: Uzbekistan keen to invest in Bangladesh’s oil, gas exploration sector The company has another RMG factory named Garments Manufacture JINLITE Bangladesh in Mongla EPZ. An agreement to this effect signed between Bangladesh Export Processing Zones Authority (BEPZA) and the Xihe Textile Technology Bangladesh, in the capital on Tuesday. Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Yang Jilai, Managing Director of Xihe Textile Technology Bangladesh Ltd signed in the deed documents on behalf of their respective sides. Read: Ecnec cleared 12 projects involving Tk 12,017cr Abul Kalam Mohammad Ziaur Rahman, general and executive chairman of BEPZA witnessed the signing ceremony. Among others BEPZA members Mohammad Faruque Alam, Nafisa Banu, executive directors Md. Zakir Hossain Chowdhury, Nazma Binte Alamgir, Md. Tanvir Hossain were present during the signing ceremony.
South Korean company Kido Dhaka Limited will invest $31.17 million to establish a garment and manufacturing industry at Adamjee Export Processing Zone (EPZ). Bangladesh Export Processing Zone Authority (BEPZA) and Kido Dhaka Co. Limited signed an agreement on Monday at BEPZA complex in the capital. BEPZA' member (investment promotion) Ali Reza Mazid and acting director of Kido Dhaka Limited Ahn Young Dae Joseph singed the agreement document on behalf of their respective sides. Also read: Bangladesh an attractive investment destination: Korean envoy Kido is a renowned sportswear manufacturing industry of South Korea. They have also 5 plants in Vietnam, Myanmar and Indonesia. The company has a big investment plans in Bangladesh and primarily they will invest at Adamjee EPZ, said Young Dae. They also have a plan to takeover sick industrial plants in different export processing zones to modernize those with updated technology, he said. The company, fully owned by Korean Kido group, will produce 2 million pieces of jacket, motorcycle safety jacket, leather & fiber jacket, work jacket, sport jacket, fleece jacket, baby warmer, soft shell jacket, sweatshirt, vest, work-wear, coverall, hospital gown, protective cloths and Personal Protection Equipment ( PPE) annually. Also read: S Korea for diversifying areas of cooperation, elevating ties with Bangladesh The company will create job opportunities for 6040 Bangladeshi nationals. BEPZA's new chairman Major General Abul Kalam Mohammed Ziaur Rahman and its outgoing chairman Major General Md Nazrul Islam were also present at the agreement signing ceremony. BEPZA's outgoing chairman Major General MD. Nazrul Islam said BEPZA contributes 20 per cent of the country's export income from eight EPZs. Seventy two companies of South Korea have invested in eight EPZs of Bangladesh so far.
The country’s single largest rooftop solar plant was inaugurated on Sunday at the privately owned Korean Export Processing Zone (EPZ) in Anwara upazila of Chattagram. The power plant, installed on the rooftop of the factories in the EPZ will generate 16 MW in the first phase while the total capacity of the plant will be 40 MW. Inaugurating the plant, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said the government has been laying special emphasis on promotion of renewable energy across the country. “We’ve set a target to generate 40 percent of electricity from renewable sources by 2041”, he told the function.