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Taiwan’s clothing manufacturer Makalot (BD) Ltd has brought a new investment of $17 million in the Bay Economic Zone, a private economic zone in Bangladesh. On Tuesday, an agreement to set up a six-storied factory on 10,000 square meters of land and lease it to Makalot was signed at Bangladesh Economic Zone Authority-BEZA office.
Makalot (BD) Ltd. will set up its factory in a 10,000 square metres area to manufacture apparel items including active sportswear, sleepwear, leisure and outdoor outfits.
Bay Economic Zone Managing Director Ziaur Rahman and Makalot Bangladesh Limited Chairman Chou Hsin-Peng signed the agreement. The company informed that there will be a new investment of $1.7 million dollars in that area of Konabari, Gazipur. The factory is expected to create about 1,500 jobs in the Bay Economic Zone.
Chou Hsin-Peng said Bangladesh has a good investment environment. They are interested in further investment in future.
Working as a global supply chain coordination company since 1990, Makalot exports underwear, sleepwear, skirts, shirts, pants, shorts manufactured in different countries to the US market. In 2022, Macalt’s sales totaled more than $1 billion, officials said.
Currently, 18 factories in China, Cambodia, Indonesia, Philippines and Vietnam produce 180 million garments annually. More than 34 thousand employees are working.
Managing Director of the Bay Economic Zone Ziaur Rahman said that due to Bangladesh’s population density and cheap labor market, several other companies in Taiwan are showing interest in investing. In that case, they expect political stability and policy continuity.
He also said that this new investment company will start the process of setting up the industry quickly. If this Taiwanese investment continues, the Bay Economic Zone will be known as a Taiwanese investment hub.
BEZA Executive Chairman Sheikh Yusuf Harun said that BEZA has been able to create an investment-friendly fair environment in Bangladesh. The Private Economic Zone is playing one of the most supportive roles in business investment. He requested the investor to set up the industry quickly following all the rules.
