Welcome to Face2Face talk Mr Mahin. Shall we begin the insights with your comments on your group’s niche in Bangladesh’s significant economy earner- textile and clothing industry?
Hamid Fabrics Ltd. has an uncompromising attitude when it comes to quality. It boasts of a setup that includes top of the range machinery from renowned European brands, such as Bruckner and Kusters. European dyes and chemicals are used throughout the production process.
HFL is run by an experienced management team, which comprises of local and foreign expertise. Only a handful of mills in Bangladesh operate at this level, thereby making us one of the major players in continuous solid dyeing nationwide.
So, as an eminent player in the industry, what is your opinion about textile and clothing sector’s current performance?
Bangladesh will continue to be a major player in the global textile and apparel industry. Last year total exports in the RMG sector accumulated to around $12.5 billion. This year we expect at least a 25% growth. The current trend in the industry indicates that major upper end brands are now turning to Bangladesh to fulfill their sourcing needs. Factories are now able to manufacture a wide spectrum of items, ranging from basics to highly fashionable.
Also, as reported by BOI, the sector has attracted around 50% of investments from investor community in the country. According to you, what are the driving factors behind this?
Bangladesh has massive potential for growth. In my opinion, some of the major driving factors would be labor costs, steady GDP, government initiatives to establish new Export Processing Zones to facilitate exports of such products, and various infrastructural developments. The RMG industry is still growing and attracting new investments. There is room for more quality factories and mills to develop and flourish. Not only does this sector massively contribute to national exports, it also empowers females (90% of garment workers are women), thus bringing them out of the poverty trap.
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.