Bangladesh is the second largest apparel exporter in the world after China. It also enjoys tariff-free market access in EU, Canada, Australia and other developed countries of the world, except the US.
Of the total foreign investment in textile and clothing in FY16, around $222.86 million was introduced as reinvested earnings of the current companies operating in Bangladesh.
South Korean firms, mostly in the export processing zones, invested $111.61 million. This is almost one-third of the FDI in textile sector. Hong Kong firms invested $89.07 million.
Overall, there was 9.27 per cent rise in foreign investment during the fiscal. Textile, telecom, banking, gas and petroleum and power sectors together accounted for 73 per cent of the FDI inflows in Bangladesh. (RR)
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