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: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

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

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search