DHAKA: A Bangladeshi business house and a Thailand corporate house Wednesday signed a Memorandum of Understanding (MoU) for setting up a US$ 150 Bi-axially Oriented Polypropylene (BOPP) factory in Bangladesh.

Mostafa Kamal, Chairman of Meghna Group Bangladesh, and Chalermchai Mahagitsiri, Chief Executive of the PM Group of Thailand, signed the MoU on behalf of the respective side.

Saida Muna Tasneem, the Ambassador of Bangladesh to Thailand and Cambodia, was present at the signing ceremony. 

As per the accord, PM group will invest at around $150 million   in   Bangladesh in phases to set up a BOPP Manufacturing plant in collaboration with the Meghan Group of Bangladesh.

Since taking the helms of the Embassy of Bangladesh in Bangkok, Ambassador Tasneem has been working relentlessly for attracting Thai FDI to Bangladesh.

She held a series of meetings with Thai Board of Investment, Thai - Bangladesh Business Council and business communities of Thailand. 

Bangladesh Embassy organized a Investment trip of the delegation of PM Groups sister Concern Thai Film Industry, to Bangladesh in December 2014 that helped the delegation to finalize their joint venture partnership with the Meghna Group.

External Publicity Wing of Ministry of Foreign Affairs confirmed the matter though a press release.

BDST: 1448 HRS, FEB 05, 2015