High value-added and non-cotton textiles sector is a highly potential area of investment in Bangladesh as the RMG industry is increasingly focusing on shift to apparels made from synthetic fibers to meet rising demand in the global market, said Faruque Hassan, President of BGMEA.
The growing eco-consciousness and care for sustainability consumers is driving customers globally towards non-cotton, especially manmade fibres and Bangladesh has ample scope in this area, he added.
He made the comments while delivering the keynote speech at a session on “Ready-made garments and textiles – weaving the way” during an investment summit at the Radisson Blu Dhaka Water Garden on November 29.
The Bangladesh Investment Development Authority (BIDA) organized the two-day summit that began on November 28.
Md. Atiqul Islam, Honorable Mayor of Dhaka North City Corporation (DNCC) chaired the session which was moderated by Shovon Islam, Managing Director of Sparrow Group.
In his keynote speech Faruque Hassan said, “While we focus on fibre diversification, we also need to make considerable investment in developing skills for making sophisticated products.”
He also laid emphasis on up-scaling capability in innovation, pattern making, design input services, developing own collections, trend analysis, product research and development.
“So we need to invest in technologies like virtual design and prototyping for quick adaptation in the area of design. Investment in the area of re-skilling and up-skilling our workers is important to take the advantage of the 4th IR.”
The BGMEA President said Bangladesh would continue its indomitable march forward where industrial sector would play the lead role.
“I would also like to welcome our investor friends to take this opportunity to collaborate and engage with us which will be mutually beneficial.”
Mohammad Hatem, Executive President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA); Mohammad Ali Khokon, President, Bangladesh Textile Mills Association (BTMA); Anwar-ul-Alam Chowdhury (Pervez), President, Bangladesh Chamber of Industries (BCI) and former President of BGMEA; and Ms. Shwapna Bhowmick, Head of Country, Marks & Spencer Bangladesh Sourcing Office attended the session as panelists.