Sino-Malaysian Co. to invest $14.55m to produce Mattress in BEPZA EZ

Vernon and Oliver Furniture Company Limited, a
China-Malaysia owned company will produce Mattress by investing US$ 14.55
million in the largest venture of BEPZA.

Mattress, is the new addition, to be produced in BEPZA Economic Zone. An
agreement to this effect was signed today between Bangladesh Export
Processing Zones Authority (BEPZA) and Vernon & Oliver Furniture Company
Limited at BEPZA Complex in the city, said a press release.

Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Lee Wai Choong,
Managing Director of Vernon and Oliver Furniture Company Limited signed the
agreement on behalf of their respective organizations.

BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman
witnessed the signing ceremony.

This company will be the first Mattress manufacturing industry among the EPZs
and BEPZA EZ. BEPZA Executive Chairman thanked Vernon & Oliver Furniture
Company for choosing BEPZA EZ as their investment destination and wished
their successful operation.

The company will produce 1.8 lakh pieces of Spring Mattress & Foam Mattress
annually. 600 Bangladeshi nationals will get employment opportunities in this
factory.

Mentionable, BEPZA encourages the investors to produce diversified products
reducing the single dependency on garments. The Authority has so far approved
a total of 24 enterprises including this one to establish industries in BEPZA
EZ and most of them will produce diversified product. The total proposed
investment of these enterprises is US$ 510.2 million.

Among others, Executive Director (Administration) A N M Foyzul Haque,
Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive
Director (Enterprise Services) Md. Khorshid Alam and Executive Director
(Public Relations) A.S.M. Anwar Parvez along with representatives of the
enterprise were present during the signing ceremony. (BSS)