The Ministry of Commerce, Government of Bangladesh has introduced “Meet Bangladesh,” an initiative aimed at elevating the country into a world-class manufacturing hub.
The objective of the initiative is to ensure full compliance and enhance competitiveness on a global scale.
The economic landscape of the global economy is currently experiencing a profound transformation influenced by various factors such as technological advancements, geopolitical shifts, demographic changes, and environmental concerns.
Positioned strategically, Bangladesh finds itself at the intersection of a growing consumer market and a thriving global manufacturing hub, thereby establishing itself as a pivotal participant in this dynamic arena.
Bangladesh is thus strategically focusing on key industries due to several factors. With a growing consumer class of 35 million people and increasing disposable income, the country is projected to have over 85 million people in the consumer class by 2030. With a young demographic and a reputation as a leader in the Readymade Garment industry, Bangladesh is well-positioned for growth.
Apart from apparels, leather and footwear, plastic, light engineering, and battery manufacturing have been also identified as the prime sectors of focus.
Over the last decade, the leather and footwear industry in Bangladesh has witnessed remarkable expansion, with exports amounting to US $ 1.69 billion in the fiscal year 2021-22 and this surge in growth can be primarily attributed to the Government efforts aimed at encouraging investment, adopting advanced technologies, and enhancing product quality.
