Underlining the importance of technology for the Bangladesh garment industry, analysts participating in a seminar- “Taking Bangladesh apparel sector forward”, organised by PricewaterhouseCoopers (PwC) Bangladesh, maintained that technology would be the key enabler in increasing productivity in Bangladesh’s labour-intensive readymade garment industry, besides adding the sector would need to innovate to remain competitive, as destinations like Africa and Myanmar enter the garment sector.
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“All the factories in Bangladesh have been made compliant in the recent past,” observed Shahriar Alam, State Minister for Foreign Affairs participating in the event, while Managing Partner of PwC Bangladesh Mamun Rashid said, “The sector must focus on how business process re-engineering and resource optimisation can create increased efficiencies.”
According to the Export Promotion Bureau (EPB), garment exports of Bangladesh comprise 5.05 per cent of global exports in 2016, and the sector stands strong as the biggest earner of foreign currency for the country.
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As new risks evolve, the garment sector will have to look at ways to ensure the safety and long-term sustainability of the industry, the analysts observed, adding, access to finance and financial tools will also be the key to driving the sector’s growth.
Acting President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Moinuddin Ahmed; immediate past President of the association and Director of Islam Garments Ltd., Md Atiqul Islam and Director of Pacific Jeans Ltd., Syed A Tanveer, amongst others participated in the seminar.
