Spain-Bangla joint venture investment likely

Messrs Global Labels (Bangladesh) Ltd, a Spain-Bangladesh joint venture company, will establish a garment accessories industry in Dhaka Export Processing Zone involving US$ 2 million.This joint venture company will produce various garment accessories including labels, ribbons and elastic with annual production capacity of 50 million meters of items, said a press release.
Initially this company will invest US$ 2 million which will increase up to US$ 6 million in phases.
Global Labels will create employment for 68 Bangladeshi nationals and in future another 200 Bangladeshi nationals will get employment opportunity.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority and Messrs Global Labels (Bangladesh) Ltd. at BEPZA Complex in Dhaka on Monday.
Sayed Nurul Islam, Member (Investment Promotion) of BEPZA and Jashim Uddin Ahmed, Managing Director of Messrs Global Labels (Bangladesh) Ltd. signed the agreement on behalf of their respective organizations.UNB

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