Dhaka, Oct. 12 -- Chinese company Longteng Garment Co Ltd will invest US$17 million to establish a garment factory at Mongla Export Processing Zone (MEPZ), creating employment opportunities for 3,005 Bangladeshis.

The Bangladesh Export Processing Zones Authority (BEPZA) signed a land lease agreement with the company at the BEPZA Complex in Dhaka on Monday.

BEPZA Member (Investment Promotion) Md Tanvir Hossain and Longteng Garment Chairman Lin Qiangqiang signed the agreement on behalf of their respective organisations.

BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony along with senior officials of the authority.

The Chinese company will set up its factory on 16,426.37 square metres of land,...