An agreement to this effect has been signed recently between Bangladesh Export Processing Zones Authority (Bepza) and Youngone Limited.

Bepza Member (investment promotion) M Farhan Uddin and Youngone Managing Director CS Sohn signed the lease agreement for their respective sides.

Bepza Executive Chairman Brig. Gen. Ashraf Abdullah Yussuf, Member (finance) AKM Mahabubur Rahman, Secretary M Ali Akbar and General Manager (investment promotion) AZM Azizur Rahman, and Vice President of Youngone Group ASA Noor were, among others, present at the signing ceremony.

Youngone, a 100 percent foreign owned company, will also enhance investment by another S$ 5 million.

Youngone Group is operating 16 units in the EPZs of Bangladesh.