Bangladesh leather industry, which is going through some tough times subsequent to falling exports, is slowly turning into a major attraction for foreign investment with host of investors from across the globe keen to invest in this sector.
According to media reports that cited views and opinions shared by experts and industry insiders, investors from countries like Vietnam, Japan, Taiwan, etc., are keen on investing in the leather sector to take advantage of Bangladesh’s eligibility for trade benefits on exports, low manufacturing costs and cheap and easy availability of raw materials and manpower.
The prospective investors from these countries are even in touch with many manufacturers of leather products and footwear, to make investments.
As per reports, at present, the total investment in leather and leather goods and footwear is more than US $ 1 billion.
Out of this, US $ 300 million investment is reportedly from foreign investors while around US $ 700 million has been invested in the sector by domestic investors.
India, China, Germany, Italy and Taiwan are some of the overseas destinations from where foreign investments are coming as per the President of the Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh, Saiful Islam.
