• Holding a pivotal role in the textile and jute sector of Bangladesh, highlight the initiatives taken, to bring the jute sector under the global spotlight?

The following reforms are under implementation to make the jute products popular and competitive in the international market over the synthetic based products:

• Efforts for production of high yield jute seeds for quality raw jute production have been initiated,

• Diversification of jute products to meet the multifarious use in the domestic and export markets, Jute Research Institute is being strengthened for development of production of diversified jute goods, appropriate steps have been initiated for increasing the use of eco-friendly jute and jute goods in the domestic and overseas markets, to increase domestic use of jute goods, necessary steps are being taken for ensuring compulsory use of jute bags for food crops, sugar, fertilizer, cement etc., the Government has been encouraging setting up of smaller mills since these are more profitable and manageable compared to the composite mills, for ensuring sustainable supply of skilled manpower for the jute industry, Diploma Course on Jute Technology would be introduced.

• Is the country favorable for FDI? How would you emphasize your answer?

The entrepreneurs of overseas countries may find investment in the Primary Textile Sector (PTS) of Bangladesh more attractive as Bangladesh has the following positive advantages over those of other competing countries:

• Abundant cheap, skilled, and trainable labor.
• Availability of low cost infrastructure facilities.
• Various incentive packages are allowed particularly for Foreign Direct Investment and Joint-venture projects.

Investment in the textile sector of Bangladesh would be very lucrative either on 100% foreign participation or on Joint-venture basis. The investment may take place for setting up of new textile mills with state-of-the-art technology in the suitable private land or in the Industrial Parks or Export Processing Zones (EPZs) of the country.

Today jute is valued as an eco friendly, natural fibre with versatile applications ranging from ordinary packing material to geo-textiles, carpet, apparels, upholstery and many more. Jute industry in Bangladesh is more exposed to the global market conditions and competitive prices.

References:

1. http://www.jute.org/
2. http://www.discoverybangladesh.com/