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Govt urged to boost investments in RMG sector

14
May '07
Readymade garment (RMG) sector is emerging as one of the most significant and fast growing industries in Bangladesh.

Huge investment opportunities are coming up as the export is soaring and domestic manufacturers and looking for capital for not only new projects but also for enhancing existing units.

Statistics show that, currently, there are prospects for setting up 148 spinning mills, each with 25,000 spindles and 295 weaving and 280 dyeing cum finishing facilities. These projects promise ample job vacancy and also elevate the economic scenario.

Experts say that this is an excellent time for investing in this sector as it will grow on a global scale and prove to be profitable.

However, banks and financial institutions are not investing as much as the industry hopes for.

Industry analysts are urging the Government to take the lead and support local enterprises. Special fund should be aggressively mobilized, by negotiating with international agencies like World Bank, the Asian Development Bank and International Finance Corporation (IFC).


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