The Bangladesh Finance Minister AHM Mustafa Kamal recently presented the budget. In his speech he said, “We’ve been able to make our economy business-friendly and investment-friendly… this proposed budget will attract investments, create employment and protect the livelihoods of the marginal communities,” he said while expressing hope of achieving targeted 7.2 percent GDP growth rate and even more for the next fiscal year alongside fulfilling the budget deficit of record 6.2 percent. Hailing the proposed budget, BGMEA called upon the Government to review some of its proposals in the direct interest of the apparel industry. Read in detail about the budget proposal and the implications for the industry.
This issue also carries the second part of the interview of the newly-elected BGMEA President Faruque Hassan regarding directions on the international scenario. He is very clear in his vision and states…Factories/suppliers have been working with the global brands for decades based on trust, professionalism and cooperation. All of which were fine until the Coronavirus pandemic demolished the ethical buying practises and our factories were exposed to order cancellation, non-payment of released goods, deferred payments and discounts up to 20%-50%. … there is much more to his interview, also catch latest news and perspectives in the current issue of AOB