The ready made 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.
Pricewaterhouse Coopers (PwC) Bangladesh Pvt. Ltd. organized the seminar titled 'Taking Bangladesh Apparel Sector Forward' and invited Shahriar 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.
Fibre2Fashion News Desk