United News of Bangladesh

A Chinese company is set to invest US$22 million to establish a fashion and beauty products manufacturing facility at the Bangladesh Export Processing Zones Authority Economic Zone. Adeline Beauty Technology (Bangladesh) Co., Ltd. signed a land lease agreement with BEPZA on Wednesday at the BEPZA Complex in Dhaka to set up the factory. The company plans to invest US$22 million in the project, which is expected to generate employment for approximately 4,170 Bangladeshi nationals. Under the agreement, Adeline Beauty Technology will manufacture a wide range of fashion hair and beauty products, including wigs, eyelashes and cosmetic nails. The products will be primarily exported to major international markets such as the United States, Canada, the United Kingdom, Germany, France, Spain, Italy, the United Arab Emirates, Russia and Mexico, among others. The project is also expected to strengthen Bangladesh’s position in the fast-growing global beauty and personal care sector, which has seen steady demand in North America, Europe and the Middle East in recent years. The agreement was signed by Md Tanvir Hossain, Executive Director (Investment Promotion) of BEPZA, on behalf of the authority, while Managing Director Hang Sun signed on behalf of Adeline Beauty Technology (Bangladesh) Co., Ltd. Executive Chairman of BEPZA, Major General Mohammad Moazzem Hossain, witnessed the signing ceremony. Bangladesh seeks more Chinese investments, security cooperation Speaking on the occasion, the Executive Chairman thanked the company for choosing BEPZA Economic Zone as its investment destination. He reaffirmed the authority’s commitment to providing a secure, compliant and business-friendly environment for investors.

Chinese Ambassador to Bangladesh Li Jiming on Thursday expressed optimism over more investment cooperation with Bangladesh in high-tech fields such as 5G telecommunications, high-speed railway, aerospace, and blue economy.