The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the National Productivity Organisation under the Ministry of Industries have signed a Memorandum of Understanding to enhance collaboration for increasing productivity, technological advancement, and competitiveness in Bangladesh's RMG industry.
Manufacturing News
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The company described the purchase as “highly complementary”, citing substantial overlap in customers, distribution channels and operational footprint, alongside opportunities to drive innovation and cross-selling.
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The company's owner, AK Azad, allegedly paid very little in municipal taxes during the Awami League's rule, according to sources from Kaliganj Municipality. However, once Sheikh Hasina's government was overthrown, local authorities reassessed taxes in compliance with new Ministry directives.
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The manufacture of export apparel is being impacted since samples and ingredients are still stuck in stacks of courier-borne goods that have not yet been delivered since a fire devastated the Dhaka airport's cargo facility.
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Mahmud Hasan Khan, President of BGMEA stated that around 250 export-oriented readymade garment companies closed last year, with worker discontent being one of the primary reasons behind this.
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With this latest agreement, the BEPZA Economic Zone has now attracted an estimated US $ 1.11 billion in total projected investment from 50 enterprises, underscoring its growing role as a magnet for diverse international industries.
