Dhaka, Bangladesh (BBN) – The readymade garment (RMG) of Bangladesh will be driven by technology and will have competitive advantage over other regions, said speakers at a seminar recently held in Dhaka.
New techniques of management and human resource development are also required to further improve the scope of the RMG sector, said Shahriar Alam, state minister of foreign affairs, reports Fibre2Fashion.
PricewaterhouseCoopers (PwC) Bangladesh Pvt Ltd organised the seminar titled ‘Taking Bangladesh Apparel Sector Forward’ and invited Alam as the chief guest.
“All our factories have been made compliant in the recent past. The global market is expanding and Bangladesh needs to diversify our products and markets and lead the garments sector,” said Alam.
“Achievements in the RMG sector of Bangladesh are example to many countries of the world and they have been trying to reach this position. Bangladesh RMG sector has scopes to improve further by applying new techniques of management, human resource development and using the latest technologies and these are essential for achieving the target of $50 billion export earnings from this sector by 2021,” continued Alam.
Industry leaders participating in the seminar opined that technology will be the key enabler to help increase productivity in Bangladesh’s labour intensive RMG sector.
It would need to innovate to remain competitive as countries like Africa and Myanmar enter the RMG mix. Access to finance and financial tools will also is the key to drive the sector’s growth.
Technology investments need to be increased in businesses as the sector is responsible for up to 80 per cent of the nation’s overall export revenue and provides employment to over 4.5 million people.
“The sector must focus on how business process reengineering and resource optimisation can create strategic efficiencies. As newer risks evolve, the RMG sector will have to look at ways to ensure the safety and long-term sustainability of this precious industry,” said Mamun Rashid, managing partner, PwC Bangladesh.
Moinuddin Ahmed, acting president of Bangladesh garment manufacturers and exporters association (BGMEA), Atiqul Islam, immediate past president, BGMEA & director, Islam Garments Ltd, and Syed A Tanveer, director, Pacific Jeans Limited also participated in the seminar and shared their views and visions for the RMG sector of Bangladesh for a global success. (KD)