Bangladesh Clothing Department No Longer Allows Foreign Direct Investment

Dhaka May 16th, The People's Republic of Bangladesh The government said that under the requirements of the garment industry, more foreign direct investment (FDI) would not be allowed to enter the profitable clothing sector of the country.

Commerce Minister FarukKhan said today that the government will not allow more foreign investment to enter the clothing sector because Local entrepreneurs High quality clothing products are being manufactured and exported.

The government will do its best to protect the clothing industry and the welfare of the garment workers. ShafiulIslamMohiuddin, the newly elected president of Bangladesh garment manufacturers and Exporters Association, has made several requests, including limiting foreign investment in the clothing sector and reducing banks. lending rate And provide training for garment workers.

In the last fiscal year, the clothing department earned $12 million, making it the largest source of foreign exchange in Bangladesh.

India has imported 8 million duty-free garments, and India is revising and expanding the duty free import figures.

Bangladesh has a place in the global market through competition. Its competitors are not only in India, but also in Vietnam, Pakistan, Indonesia and other Asian countries.