Nova Intima, a Hong Kong-British Virgin Island-owned ladies' undergarment manufacturing company, will invest $28 million in BEPZA Economic Zone (BEPZA EZ) in Mirsharai, Chattogram. The company signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) in Dhaka Monday. Ali Reza Mazid, member (investment promotion) of BEPZA, and Vijay Uttam, managing director of Nova Intima, signed the deal. Major General Abul Kalam Mohammad Ziaur Rahman, executive chairman of BEPZA, was also present. Read: Dutch Co. to invest $ 10.52 million in BEPZA’s Economic Zone Nova will annually produce 60 million units of ladies' undergarments and fabrics and accessories for producing those clothing items, employing more than 5,625 Bangladeshis. Two other companies in Chattogram and Karnaphuli EPZs, under the same owner, invested around $22 million in the production of ladies' undergarments, employing around 6,000 Bangladesh nationals.

Authorities concerned on Sunday signed an agreement to expedite the work on development of BEPZA Economic Zone at Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsharai of Chattogram district. The deal was inked by Bangladesh Export Processing Zones Authority (BEPZA) and Bangladesh Economic Zones Authority (BEZA).   BEPZA Executive Chairman Maj.Gen. Md Nazrul Islam and Executive Chairman of BEZA Paban Chowdhury signed the agreement at a hotel in Dhaka.   Speaking as chief guest Principal Secretary to the Prime Minister Dr Ahmad Kaikaus said the economy is growing surprisingly fast due to  conducive environment for investment. He said modern, fast and quality services are attracting foreign investors. Paban Chowdhury called the agreement a milestone. He said BEZA received $6 billion worth investment proposals in 2020. “We hope that several factories located in BEZA sites will go into production fully in a short time,” he said. Md Nazrul Islam said BEPZA has already displayed its expertise in attracting investment and export diversification and thus creating new jobs. The Senior Secretary of Local Government Division Helal Uddin Ahmed said  a bridge connecting Mirsharai and Feni in parts of the industrial city will be built. “The project proposal has already been prepared. The construction work of this bridge will start very soon,” he  said. High officials of Prime Minister’s Office, BEPZA and BEZA including some local and foreign investors were present at the programme.  BEPZA Economic Zone is being set up on 1150 acres of land at Mirsharai, Chattogram. About 350 industries will be set up in 539 industrial plots. This will create employment for about 4 lakh people and attract investment of about US$ 4 billion, said officials.