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A Malaysian company will set up an electronic industry in Chittagong Export Processing Zone. The entity would be named M/S. Vextronic (Bangladesh) Limited.
An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and M/s. Vextronic (B D) Limited in the capital Wednesday.
General Manager (Investment Promotion) of BEPZA AZM Azizur Rahman and Sitara Shah of M/s Vextronic (BD) Limited signed the lease agreement on behalf of their respective sides.
This cent per cent foreign-owned company will invest US$ 650 thousand that will produce annually 120,000 pieces of electric fencers, 50,000 pieces of test instruments , 20 million pieces of insulators and 300 pieces of power line fault-finders.
Vextronic will create employment opportunity for 81 local and two foreign nationals.
Among others, Member (Finance) and Acting Executive Chairman Masud Ahmed, Secretary S Mahmud Yunus, Chief Engineer SS Kibria and Senior Deputy Secretary SM Abdur Rashid of BEPZA were present, at the signing ceremony.
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