Not so good is the fact that policy support and easy access to green funding opportunities within the sector are still inaccessible to a lot of factory owners. What’s worse is the fact that, even though RMG owners have advanced by leaps and bounds, overseas buyers are still ignoring the contracts that they got into willingly and are refusing to pay for many orders which have already been made.
The feat achieved by our entrepreneurs is nothing small, and it must have cost them a good portion of capital expenditure to make it feasible. Bangladesh is not the richest country, but we still have passionate individuals like this that would willingly go out of their way and choose to be pro-active in their business practices.
Even on a broad scale, we need to implement green practices due to the historic actions of developed countries, the same countries who are currently refusing to pay us.
It is high time foreign buyers take responsibility for their contracts and pay what they owe us, and they need to start paying us better -- at least when compared to countries like China and Vietnam -- as we are growing the same capabilities and the same capacities that those countries have in their respective sectors.
The administration needs to facilitate all the advances we have made when it comes to sustainable green technology in our RMG sector. This sector has long been in need of an overhaul, and we also need to renegotiate our position in the global supply chain.
Let’s not waste this opportunity.
