Dhaka: Handa Industries Co, a Hong Kong-based textile and apparel chain, has announced its plan to invest US$ 250 million in Bangladesh. Handa Industries Ltd. Chairman Han Chun revealed the investment strategy during a meeting with Chief Adviser Professor Muhammad Yunus at the State Guest House Jamuna.
According to Bangladesh Sangbad Sangstha, Handa initially planned to invest US$ 150 million in Bangladesh's textile sector, signing a memorandum of understanding with the country's authorities during the Bangladesh Investment Summit in April 2025. However, after further assessments and robust support from Bangladesh authorities, the company has increased its investment to approximately US$ 250 million.
Handa Industries has decided to establish three factories in Bangladesh, including two garment processing units and one knitting and dyeing facility, which are anticipated to create 25,000 jobs. Han Chun stated that the decision to augment the investment came after gaining confidence from discussions with government agencies, including the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), and Bangladesh Export Processing Zones Authority (BEPZA).
BIDA, BEZA, and BEPZA officials noted that this investment represents one of the largest single Chinese investments in Bangladesh's textile sector. Chief Adviser Prof Yunus welcomed Handa's plan, encouraging the company to lead Chinese investment in Bangladesh's textile sector and inspire other investors from China to follow suit.
Prof Yunus also urged Handa Industries to train Bangladeshi designers to better understand buyer preferences. During the meeting, Han Chun presented a factory design intended for the Mirsharai economic zone, which the Chief Adviser praised.
The land lease agreement for the garment factory in Mirsharai is set to be signed on Wednesday, with an initial investment of US$ 80 million in phase-1. The finalisation of land and facilities for phase-2 is in progress and is expected to be concluded by the end of 2025. Present at the meeting were BIDA executive chairman Chowdhury Ashik Mahmud bin Harun, Principal Secretary Md. Siraj Uddin Miah, SDG principal coordinator Lamiya Morshed, BEPZA executive chairman Abul Kalam Mohammad Ziaur Rahman, and Handa Industries Ltd. President Heng Zeli.