“From January 2009 to March 2011, textile and garment projects totaling to 1,198, have been registered with the Board of Investment (BOI)” – Bangladesh, revealed Mr Tofazzel Hossian Miah, Director – BOI to fibre2fashion.
The textile and clothing sector has received around 50 percent of all the investment proposals, which indicates the success of the sector in the country, considering that shipments from the RMG industry account for 80 percent of overall export revenue.
In the eight-month period beginning from July 2011, knitwear exports rose 43.93 percent year-on-year to touch US $5.8 billion, while woven garment shipments too surged 37.95 percent to reach $5.13 billion.
Bangladeshi clothing producers, numbering to around 4,700, have the all top-end retailers like Wal-Mart, GAP, H&M, Carrefour, Tesco, Metro and JC Penney as their buyers.
“In the period between January 2009 to Feb 2011, joint ventures and foreign investments totaled to Taka 100 crores. Exports from the sector are very good, so investors see very good prospects and we see it increasingly as a strong tool for the economy”, Mr Tofazzel added by saying.
Fibre2fashion News Desk - India
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