BEPZA inks $12m investment deal with German company

Published : 19 Nov 2020 08:05 PM

German company M/S. UBF Bridal Limited is going to establish a high-end bridal wear manufacturing industry in Adamjee EPZ. The company to this effect has signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) with an investment of US$ 11.87 million. The two parties inked the deal on Wednesday connecting virtually from BEPZA Complex, Dhaka at one end and Bangladesh Embassy in Berlin, Germany at another end. 

The agreement was signed at Bangladesh Embassy in Germany since the investor was unable to travel Bangladesh physically to sign necessary documents due to corona pandemic. BEPZA set a unique example by signing a lease agreement virtually for the first time with a company to continue the flow of investment in the new global situation caused by the corona.

Member (Investment Promotion) of BEPZA Md. Mahmudul Hossain Khan at BEPZA Executive Office, Dhaka and Managing Director of UBF Bridal Limited Adrian Konrad Gaszak at Bangladesh Embassy in Germany inked the agreement on behalf of their respective organizations. Bangladesh Ambassador to Germany Md. Mosharraf Hossain Bhuiyan, ndc congratulated the German investor and assured his all out support.

Mentionable, M/s. UBF Bridal Limited is relocating their factory from Poland to Bangladesh. Other than bridal wear, the company will produce 27 different types of bridal items. They will produce six lac pcs of products annually to be exported different countries including Europe. This factory will create employment opportunity for 113 Bangladeshi nationals.  

Among others, Commercial Counsellor of Bangladesh Embassy Md. Saiful Islam and Chairman of United Bridal Factory Co. Mr. Bartosz Wodecki at Berlin end; General Manager (Public Relations) Nazma Binte Alamgir and General Manager (Investment Promotion) Md. Tanvir Hossain of BEPZA were present at Dhaka end during the virtual signing ceremony.