The initiative’s focus is on strengthening backward-linkage industries, reviving struggling factories and promoting joint ventures.
Bangladesh trade body BGMEA and the Overseas Chinese Association in Bangladesh (OCAB) have launched an initiative to attract Chinese investment into the RMG sector.
The initiative’s focus is on strengthening backward-linkage industries, reviving struggling factories and promoting joint ventures.
OCAB feels more FDO is needed for modernising the upstream supply chain for Bangladesh’s garment industry.
At a meeting in Dhaka, representatives from the two sides explored ways to facilitate investment, technology transfer and business partnerships between Chinese investors and Bangladesh manufacturers.
BGMEA said the joint initiative aims at setting up a one-stop business matchmaking platform that would facilitate investment partnerships, support the reopening of closed or financially distressed factories through fresh capital and technology, and encourage greater foreign investment in Bangladesh’s backward linkage industries and higher value-added garment manufacturing.
More foreign investment would be crucial for developing and modernising Bangladesh’s upstream supply chain for the garment industry, a BGMEA statement said citing the Chinese delegation.
OCAB said many Chinese companies are keen on setting up factories, transferring technology and expanding operations in Bangladesh, but lacked reliable and comprehensive information needed to make investment decisions.
It sought BGMEA’s support in providing relevant information and facilitating coordination with potential local partners, according to domestic media outlets.
Fibre2Fashion News Desk (DS)
