Tuesday | 14 January 2025 | Reg No- 06
বাংলা
   
Tuesday | 14 January 2025 | Epaper

RMG industry’s role in our economy 

Published : Thursday, 12 December, 2024 at 12:00 AM  Count : 1316
Fahima Ahmed Chaity
Bangladesh, a developing country with a rapidly growing economy, has emerged as one of the world's largest exporters of garment products. The country's garment industry has become a vital source of income, contributing significantly to its export earnings and employment. A substantial portion of these exports goes to the Middle East, particularly to countries such as Saudi Arabia, Oman, Bahrain, Kuwait, and Qatar, where businesses in Dubai play a crucial role in importing and distributing Bangladeshi-made garments.

The Garment Industry's Role in Bangladesh's Economy: In Bangladesh, garment factories are the central players in the textile export business. These factories produce a wide range of garment products, including shirts, pants, jackets, and other apparel. Dubai-based businesses import these products and often modify them by adding logos or rebranding before exporting them to the Middle Eastern markets. This process increases the value and profitability of the garments, benefiting both Bangladeshi manufacturers and Dubai traders. 

While the profit margin from these exports is relatively modest, usually between 5% and 10%, the scale of the garment industry in Bangladesh ensures that it remains a cornerstone of the country's economy. The continued success of the sector depends on improving both the production processes and the workforce involved in garment manufacturing. 

Opportunities for Expansion: Despite its success, there is immense potential for further growth in Bangladesh's garment export sector. One of the key factors in unlocking this potential is investing in training and development programs for the workforce. The 6 million workers in the Bangladeshi garment sector need ongoing education and skills development to keep up with global trends and technological advancements in textile manufacturing.

Moreover, the government of Bangladesh should focus on providing additional support to the garment factories in the country. There is a need for policies that ensure better infrastructure, improved safety standards, and financial incentives that will encourage factory owners to invest in modern technologies. These measures will not only boost production efficiency but also enhance the quality of Bangladeshi garments, making them even more competitive on the global stage.

The Role of Natural Resources: In addition to manpower training and infrastructure, Bangladesh must also make better use of its natural resources. The country has an abundance of raw materials, including cotton and jute, which can be further processed and incorporated into the garment manufacturing process. By focusing on sustainable sourcing and production, Bangladesh can add more value to its products and reduce its dependence on imported raw materials.

A Collaborative Effort: The success of Bangladesh's garment sector relies on a collaborative effort between the government, factory owners, and the workforce. With the right focus on training, resource management, and technological innovation, Bangladesh can significantly increase its earnings from garment exports and elevate its position as a global leader in textile manufacturing Dubai-based businesses. However, to sustain growth in this sector, Bangladesh must continue improving the quality and value of its products, ultimately benefiting not just the factories and traders but the entire economy.

As Bangladesh's garment industry continues to evolve, there is hope that the country's export earnings from this sector will grow significantly, providing more jobs, increasing foreign exchange reserves, and contributing to the overall economic development of the nation.

 This article highlights the importance of Bangladesh's garment sector, focusing on key areas for improvement, such as workforce training, infrastructure, and resource utilization. It also discusses the potential for increased profitability through value-added processes and better collaboration with international markets, such as Dubai.

The writer is a teacher at an English medium school



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