The Chinese company Hangshou JY Supply Chain – submitted the investment proposals to the Bangladesh embassy in Beijing that has been forwarded to Bangladesh Investment Development Authority (Bida), said Bida officials.

The company Hangshou offers a $15-20 million investment in Chattogram’sBangabandhu Sheikh MujibShilpa Nagar (BSMSN) economic zone to set up garment and footwear making industries.

The investment proposal of Hangshou JY Supply Chain Co Ltd states that the company will build a garment factory on 12 acres and a footwear factory on 8 acres of land in the economic zone. The proposal said the investment will generate more than 15,000 jobs. The factories will be under “Tech International Limited”.

Hangshou’s products are mainly exported to Europe and the US, and the company has established close relations with large chain supermarkets such as Walmart and Decathlon. The company has branches in mainland China, Hong Kong and Paris.

Source: TBS News