Walton Hitech Industries Ltd is about to become the first-ever Bangladeshi company to set up operations in the United States of America.
According to reports, Walton plans to set up the company’s subsidiary “Walton Corporation United States of America” as part of their global expansion plan. The company plans to invest around $500,000 in the subsidiary to purchase ordinary and preference shares, subject to approvals from Bangladesh bank and other relevant regulators.
Walton Corporation United States of America will provide imports, exports and procurement services in North America said Walton in a Dhaka Stock Exchange web post.
Walton has also decided to open branches or liaison offices in six other countries, including India, Nepal, the UAE and South Korea as part of their plans to gain a larger market share and source their technology globally. The company plans to carry out its expansion employing special marketing and services teams and aims to be one of the top five global brands by 2030.