M M Uddin is a Journalist of only RMG sector based in Dhaka, Bangladesh.
Desk Reports: Mr. Hamad Mubarak Al-Muhannadi, CEO of RasGas and Mr. Abdul Mansur Md Faizullah, Petrobangla Chairman signed the country’s first ever sales and purchase agreement on 25 September 2017 in Doha to import 2.5 million tones of Liquefied Natural Gas (LNG) annually for 15 years to meet the country’s demand.
Risk analytical reporting: Bangladesh is the second largest readymade garments exporter in the world, every year the industry earns a large amount of foreign currency. Bangladesh’s RMG export earnings stood at $28.14 billion in the last FY 2016-17, which is o.19 percent higher than the $28.09 billion achieved in FY 15-16. It is a matter of sorrow that every year Bangladesh invests about 14.36 percent export revenues to hire foreign employees. Last FY the total export of the country was $34.84 billion.
Analytical reports: Bangladesh is very potential country in terms of sub-continental connectivity because of its great strategic location. The market-based economy of Bangladesh is the 46th largest in the world in nominal terms, and 33rd largest by purchasing power parity; It is classified among the Next Eleven emerging market economies and a Frontier market. According to the IMF, Bangladesh’s economy is the second fastest growing major economy of 2016, with a rate of 7.1% but till now Bangladesh Bank (BB) has not allowed any Bangladeshi national to invest fresh money in overseas.
Press even coverage article: Bangladesh has an export policy, which was published in 2015 and it will remain in force till June 30, 2018. The policy shall be applicable in all places in Bangladesh except the Export Processing Zones, Bangladesh Economic Zones and private Export Processing Zones. Bangladesh is an export-oriented developing country. The country is pursuing export-oriented industrialization with its key export sectors including textiles, shipbuilding, fish and seafood, jute and leather goods. According to the IMF, Bangladesh’s economy is the second fastest growing major economy of 2016, with a rate of 7.1% that has been largely motivated by its exports of RMG products. So it is really positive to have an export policy that could help promote export of the country.
Risk analysis and solution: Bangladesh Garments Manufacturers and Exporters Association (BGMEA) has announced an export goal three years ago in Apparel Summit 2014 for increasing annual export of readymade garments to US$50 billion by 2021 on the 50th anniversary of the People’s Republic of Bangladesh. The goal was literally ambitious but it was not impossible. However, the path of the success has not been bed of roses for Bangladesh RMG sector as it began its historical journey over three decades ago.
Research work/Investigative reports: Buying House (BH) is one of the most distinguished business fields in Bangladesh RMG sector. It is well understood that Bangladesh achieved second highest RMG exporters’ position in the world, because the sector produces high quality product with a competitive price than other competitor countries. Bangladesh has created a big place in the world’s apparel market, where garments buying houses play a vital role for this significant contribution. Considering minimum 5 percent buying services commission, it could be said that at least 1.4 billion dollars have mutually been shared by garments manufacturers and buying houses in last FY 15-16.
Investigative work/Research work: Idea, innovation, research and development are the prime mover of a sustainable industry. If the stakeholders of Bangladesh are committed to uphold rigor growth in domestic and international arena, it must emphasize on upgrading in the value chain of the textile and other industries to make sure more value addition. For a country, semi heavy industrialization is needed for making sure vital value addition to secure the prestigious visions.
Desk reports: Smart textile is a combination with textile and technology. Some of the smart textiles can monitor health and can measure movements. Technology that makes it possible and incorporate the opportunity to recycle and reuse textile fibers is smart textiles could revolutionizes lives.
Articles: According to the Bangladesh Bank statistics Bangladesh’s textile and clothing sector secured a growth in achieving Foreign Direct Investment (FDI) in the last fiscal year (FY16). A significant investment came in this sector which successfully stood up at $396 million in the last fiscal year. It’s 11 percent higher than last fiscal year when it was $351.62 million.