Home / Knowledge / News / Apparel/Garments / Bangladesh may ease investment norms to help RMG sector
Bangladesh may ease investment norms to help RMG sector
Dec '12
Earnings from the readymade garment (RMG) and all other sectors are expected to get a major boost, as the Government is reviewing its Foreign Exchange Act with an aim to liberalize it to draw more investment in diverse sectors, the Chief Economist of the Bangladesh Bank Dr. Hassan Zaman said in his inaugural address at the Bangladesh Investment Summit in Singapore.
Asian Investor and Finance Asia organized the one-day summit to help Asia’s key wealth funds, public and private pension funds, family businesses and other financial investors to explore trade and investment opportunities in Bangladesh.
Dr. Zaman said Bank of Bangladesh - the central bank of the country - and the security regulators are undertaking a review of the hindrances to foreign investment. Besides, the Government is also planning to release its first international bonds to boost its revenues.
He said they are trying to identify where they can reach over the next one or two decades, and what level of synchronization can be achieved with world financial markets.
The central bank sticks to its goal of sustaining the country’s balance of payments, which necessitates utilizing capital controls to tackle the domestic inflation and other macroeconomic issues. This is also because the country does not have enough foreign reserves that can provide a confidence to freely use the capital, Dr. Zaman said. 
The country’s foreign exchange reserves now stand at US$ 12.3 billion, which can only meet the country’s four months’ import requirements. Though, this is an ordinary sum, it is considerably above the US$ 1.6 billion levels where reserves stood a decade ago, he added.
Overall, with a year-on-year rise of 5.93 percent, Bangladesh’s earnings from exports stood at US$ 24.3 billion during last fiscal, the Export Promotion Bureau (EPB) data shows.
Bangladesh made around US$ 19.09 billion in garment exports during last fiscal, and according to the EPB, garment exports have steadily contributed over 75 percent of the country’s overall exports earnings since start of the current decade.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search