POBNEWS24, Dhaka, Nov 14, 2022 : Bangladesh’s ‘Made in Bangladesh’ week has started with the aim of projecting a positive image of how Bangladesh can bounce back even in the face of adversity. Prime Minister Sheikh Hasina called upon foreign businessmen and entrepreneurs to choose Bangladesh for investment and sourcing while inaugurating the Bangabandhu International Conference Center (BICC) on Sunday. He said that Bangladesh is now the best and favorable destination for investment. Sutra Basas.
The Prime Minister said, ‘We are establishing 100 Special Economic Zones across the country. The country’s investment-friendly policies and duty-free and quota-free facilities for Bangladeshi products in various countries are attracting foreign investors. He said to the country’s business leaders, “You 
should adopt foreign high technology and knowledge in your industrial sector. ‘
Bangladesh Apparel Exchange (BAE) is supporting this event. Organizers said, the goal of the event is to present the story of the country’s entrepreneurs, innovation – these to foreign buyers and related persons. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is the organizer of ‘Made in Bangladesh Week-2022’.
The Prime Minister said, ‘We are connecting with Trans Asian Railway, Trans Asian Highway. Apart from that we are developing everything including waterways, airways, railways. ‘
The Prime Minister said, ‘The people of Bangladesh are the source of our courage. The socio-economic development of the people is increasing and the per capita income is increasing. 2 thousand 824 USD per capita income now. The purchasing power of the people of this country is also increasing. Our own market is being created. He said that it is not enough to export, but also to create a market within our own country. During the Corona period, his government has allocated money to the grassroots as much as possible.
The Prime Minister said, ‘We are hearing the footsteps of the fourth industrial revolution. Technology must be used. We need to develop skilled human resources to suit the fourth industrial revolution. For that, the government has taken steps and is also creating entrepreneurs. He said, we have to take measures to use robot technology with artificial intelligence in the garment industry, we are ready for that, we are getting ready. ‘
The Prime Minister urged exporters of ready-made garments to increase production as well as improve quality of cloth and ensure labor-friendly environment.
The Prime Minister emphasized to achieve self-sufficiency in food again and said, ‘We have more than 16.5 crore people. They have to provide food security. But we don’t want to beg from anyone. I will produce my own food. For that, we are taking measures to protect agricultural land, not to build scattered industries and to build environment-friendly industries. ‘
The week-long event kicked off with the theme ‘Care for Fashion’ at the Bangabandhu International Conference Centre’s Hall of Fame. It will continue till November 18. Prime Minister also unveiled the covers of two coffee table books at the inaugural function. On the occasion, the Prime Minister presented special awards to four ready-made garment manufacturers in recognition of their special contribution to garment exports.
Prime Minister’s Adviser on Private Industry and Investment Salman F Rahman, International Apparel Federation (IAF) President Sem Altan and BGMEA Senior Vice President SM Mannan Kochi spoke on the occasion. BGMEA President Farooq Hasan delivered the welcome address. Two separate videos on the progress of the country’s garment sector and women’s empowerment were screened at the event. On this occasion, 550 foreign brands and buyer representatives of the clothing sector have come to Dhaka.
The prime minister said, ‘During the corona pandemic, we have provided special funds for export-oriented industries, providing working capital facilities to affected industries and service sector organizations, providing working capital facilities to small (including cottage industries) and medium industries, distressed export-oriented garments, leather goods and footwear industries. Under a total of 28 packages, including social security programs for workers, we have allocated a loan of 2.37 trillion rupees at very low interest, which is 5.98 percent of the total GDP of the fiscal year 2022. By taking timely steps, we have been able to successfully overcome all the obstacles in spite of hundreds of adversities. ‘
He said, ‘We are providing cash assistance and other benefits for the continued growth of exports of manufactured garments. The garment sector earned USD 42.61 billion in FY 2021-22, which is 35 percent higher than FY 2021-21. During July-October of the current financial year, export earnings from ready-made garments reached US$ 13.95 billion, which is 10.55 percent higher than the export earnings earned during the same period of the previous fiscal year. ‘
Sheikh Hasina said, ‘In order to increase the contribution of the export sector to our GDP, long-term tax incentives were provided to ‘Made in Bangladesh’ products and services in the last financial year. In continuation of this, with the aim of making ‘Made in Bangladesh’ brand a global brand, creation of new areas of export and diversification of products and creation of new markets are being encouraged. As part of this initiative, the tax rate on garments manufactured has been increased to 12 percent for normal factories and 10 percent for green factories. As a result, 9 of the world’s top 10 environmentally friendly factories are located in Bangladesh.
BGMEA President Farooq Hasan said in his welcome speech at the opening ceremony that the total export income of the country has been set at 100 billion dollars by 2026. In addition, BGMEA has set a new target of $100 billion by 2030 from the apparel sector alone. This means Bangladesh’s trade share in the world market will be 14 percent. Almost twice the current share.
