The investments by South Korea companies Giant BD Footwear and Dongwoo BD is earmarked for the establishment of a shoe and shoe accessories manufacturing industry within the Bangladesh Export Processing Zones Authority Economic Zone (BEPZA EZ).

Both manufacturing ventures are entirely foreign-owned. Giant BD Footwear’s facility is projected to produce 20 million pairs of shoes, sandals, and shoe accessories annually in BEPZA EZ and is set to generate employment opportunities for 600 Bangladeshi nationals.

Meanwhile, Dongwoo BD states it plans to create employment opportunities for 513 Bangladeshi nationals and will produce 3.6 million metres of different types of PU Synthetic Leather annually.

Giant BD Footwear’s agreement was formalised on 10 August by Ali Reza Mazid, member (investment promotion) of BEPZA, and Kim Byung Jin, chairman of Giant BD Footwear Ltd., on behalf of their respective organisations.

Major general Abul Kalam Mohammad Ziaur Rahman, the executive chairman of BEPZA was present for the signing ceremony which took place at the BEPZA complex in Dhaka.

Source: Just Style