We welcome today’s launch by the prime minister of the Centre of Excellence for the Bangladesh Apparel Industry.
Its opening coincides with the BGMEA’s biggest ever Dhaka Apparel Summit at Bangabandhu International Conference Centre.
By supporting skills development and market-responsive training, the new industry backed initiative, supported by the Swedish government and brands, will provide valuable help to improve productivity in the RMG industry.
Factory owners and brands attending this week’s RMG summit should do more to fund projects of this type in order to help safeguard the growth of the industry.
The RMG industry is responsible for 80% of the country’s export earnings. Its role as the country’s leading industrial employer, supporting some 4 million jobs, is crucial to the future of our economy. It is encouraging that since Rana Plaza, brand-led initiatives and government-backed reforms have helped the sector progress with much needed safety inspection and improvement programs while continuing to keep growing exports.
Bangladesh’s RMG export target this year is $27bn, and the industry has set a goal of hitting $50bn in exports by the 50th anniversary of independence in 2021.
Thanks to the skills and backward linkages built up by the sector over the past 30 years, Bangladeshi manufacturers have a good base from which to grow and take advantage of the opportunities offered by buyers seeking to relocate from other locations such as China.
Raising productivity and improving skills is crucial. We must invest to rise up the value chain to sustain the growth of this vital industry.
