Printed on Mon Sep 26 2022 6:48:09 PM

The reasons why Bangladesh is lagging behind Vietnam in RMG sector

Staff Correspondent
National
RMG sector in Bangladesh
Bangladesh was second only after china in world market for garment exports. Bangladesh exports worth 2,880 crore USD in the corona pandemic year in 2020.

At the same time, Vietnam has overtaken Bangladesh by 12 percent. The country's export income is two thousand 890 crore USD. Due to this, the second top position held by Bangladesh for many years has been lost.

The concerned people opinions is that Bangladesh has lost its place in the world market of garments due to the production of few cotton dependent garments, non-arrival of foreign investment and low productivity of workers.

CPD research director Khandaker Golam Moazzem said the diversity of Vietnamese products is much higher. Where we rely much more on cotton. Apart from cotton in Vietnam, there are many kinds of products including synthetic, polyester, manmade fiber.

As a result, they are able to attract more buyers. Again the productivity of their workers is much higher than ours which they are taking advantage of.

He also mentioned the lack of foreign investment in the garment sector in Bangladesh as one of the reasons for the backwardness. The researcher said that there is absolutely no foreign investment in the garment sector in our country. Which is much higher in Vietnam.

Domestic investment is an asset to us but with the foreign investment this sector will expand more.

However, BGMEA is hopeful of regaining the position of the world's second largest garment exporter by the end of the current financial year. At present, there are enough export orders in the factories, with some new initiatives being taken to regain the lost space this year, BGMEA officials said.

BGMEA President Farooq Hasan said, "Our factory was closed for about a month and a half for corona in 2020. No exports. This is a big reason. This year we are trying to turn around. Another place we are lagging behind is the non-cotton garment manufacturers. We are also working on it."

Voice TV/IA
Latest News