Handa (Bangladesh) Garments Co. Ltd., a subsidiary of the Hong Kong-based Handa Industries Co., has signed a land lease agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to establish a state-of-the-art garment manufacturing facility in the BEPZA Economic Zone.

The agreement, valued at $41.33 million, was signed on Wednesday at the BEPZA Complex in Dhaka by Md Ashraful Kabir, Member (Investment Promotion) of BEPZA, and Heng Zeli, Chairman of Handa (Bangladesh) Garments Co. Ltd.

The signing ceremony was witnessed by BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Handa Group Chairman Han Chun, and senior officials from both organisations.

This initiative marks the first phase of Handa Industries’ larger investment plan in Bangladesh, which now stands at $250 million.

The company announced its increased commitment during a high-level meeting held on Tuesday at the State Guest House Jamuna with Chief Adviser Professor Muhammad Yunus.

Originally planning to invest $150 million, Handa Industries revised its strategy following encouraging engagement with Bangladeshi authorities.

The revised plan includes the establishment of three manufacturing units—two garment processing factories and one knitting and dyeing unit—expected to generate around 25,000 jobs.

‘We decided to increase our investment as we gained confidence through discussions with various government agencies including BIDA, BEZA and BEPZA,’ said Han Chun, Chairman of Handa Group. ‘We aim to introduce cutting-edge technologies to Bangladesh’s garments and textiles sector through our projects.’

The land lease agreement signed Wednesday pertains to the first phase of the Mirsharai facility, with an investment value of $80 million. Preparations for the second phase are currently underway and are expected to be finalised by the end of 2025.