Better competitiveness boost BD apparel orders, soar investment

Date:

Post View:

Better competitiveness boost BD apparel orders, soar investment

Apparel competitors like India, China and Sri Lanka are losing price competitiveness to Bangladesh resulted boost in buying orders from Europe, USA and Russia.

Fresh apparel orders rose by 20 to 25 per cent this year on the back of the reopening of stores of retailers and brands in Europe and the US after longe closure and shutdown during pandemic.

Besides, Bangladesh has attracted more than $21.17 billion worth of investment proposals in the last two years since the beginning of the COVID-19 pandemic in January 2020, according to Bangladesh Bank statistics, which showed the country received $2.5 billion in foreign direct investment (FDI) in fiscal 2020-2021 and $2.37 billion in FDI in 2019-20.

 

A variety of factors have contributed to Bangladesh recent trade performance.  Bangladesh has cost advantages (example, power costs 30 to 40 percent less in Bangladesh than it does India, China) and Availability of free or preferential trade agreements with key importers, such as EU, UK and Canada for apparel.

Trade experts said to scale up business effectively and operate profitably, Bangladesh must take necessary steps to not only boost factor cost competitiveness but also to optimize service levels, adopt digitization, build design capabilities and invest in sustainability & traceability to enhance global competitiveness.

Bmirrorhttps://bmirror.net/
businessmirror20@gmail.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_img

Popular

More like this
Related

IFIC Bank inaugrates ‘Smart Booth’

B Mirror Desk: IFIC Bank Plc has opened smart booth...

The share market is one of the weakest ‘pillars’ of the country: Dr. Salehuddin Ahmed

The former governor of Bangladesh Bank. Salehuddin Ahmed said,...

Big deal of six companies on the block

On Thursday (June 13), the last working day of...

Shahjalal Islami Bank holds 876th executive committee meeting

B Mirror Desk: The 876th meeting of the Executive Committee...