Handa to set up 3 factories in Bangladesh, hopes to create 25,000 jobs

Hong Kong-based textile and garment company Handa Industries Company has announced an investment of US$ 250 million in Bangladesh. Han Chun, Chairman of Handa Industries Limited, announced the investment plan during a meeting with Chief Advisor Professor Muhammad Yunus at the State Guest House Jamuna in Dhaka on Tuesday (July 29). It is learned that Handa initially planned to invest $ 150 million in the textile sector of Bangladesh. To this end, a memorandum of understanding was signed with the relevant authorities of Bangladesh at the investment conference held last April. Later, due to the strong cooperation of various agencies of the Bangladesh government, Handa improved its investment plan to $ 250 million. The company will now set up three factories in Bangladesh – two garment processing and a knitting and dyeing unit. Through which it is expected to create employment for 25,000 people. Han Chun said, after discussing with officials of various government agencies, such as BIDA (Bangladesh Investment Development Authority), BEZA (Bangladesh Economic Zone Authority) and BEPZA (Bangladesh Export Processing Zone Authority), we have gained confidence and decided to increase the investment. He also said, we want to bring the latest technology to the garment and textile industry of Bangladesh through our projects. BIDA, BEZA and BEPZA officials said, this is one of the largest single Chinese investments in the textile sector of Bangladesh. Principal Advisor Professor Muhammad Yunus welcomed the investment plan of Handa Industries. He said, you should take the lead in Chinese investment in the textile sector of Bangladesh and encourage other Chinese investors to come here too. Han Chun presented a design of a factory to be set up in the Mirsarai Economic Zone to the Principal Advisor. The Principal Advisor, after looking at the design, said, this looks like a wonderful painting to me. It is learnt that the first phase of the $80 million garment factory land lease agreement in Mirsarai will be signed on Wednesday. The process of finalizing the land and other facilities for the second phase is underway, which is expected to be completed by the end of 2025. Among others, BIDA Executive Chairman Chowdhury Ashiq Mahmud Bin Harun, Principal Secretary to the Chief Advisor Md. Siraj Uddin Mia, Principal Coordinator for SDGs in the Chief Advisor’s Office Lamia Morshed, BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman and Handa Industries Limited President Heng Jelli were present during the meeting.