Bangladesh is going to attract Chinese investments as well. For the records, the Bangladesh Export Processing Zones Authority (BEPZA) announced they have recently reached an agreement that will enable Unicorn Leather Goods Factory to carry out a relevant investment in the country. The company, headquartered in China, is due to open in Bangladesh a leather goods manufacturing plant.
The Bangladeshi organization decided to take action in the last few months, following the pandemic caused by CRV outbreak. Like in India, their aim was to draw foreign investors, mostly concerned about the possible outbreak of additional epidemics in other countries in the Far East, especially in China. Among others, Unicorn Leather Goods Factory has been one of the first companies to respond positively to their call. Both parties have signed an agreement for the opening of a new manufacturing plant, based in the area of Chattogram. The overall investment amounts, in terms of value, to 1.02 million US dollars. They are going to take on, in the new production site, 764 employees: they will be up to the manufacturing, inside the new factory, of one million items a year, including bags, belts, wallets and other accessories.
- The appeal is working: some are starting to move production from China to India
- UK, Fast Fashion in crisis: Bangladesh loses 2.75 billion
- Bangladesh plans to allocate tannery fines to their workers