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Prime Minister Tarique Rahman has urged garment entrepreneurs to diversify their businesses to reduce the economy’s heavy reliance on a sinsector. Apparel entrepreneurs must diversify their businesses,” Mahmud Hasan Khan, president of BGMEA, said, quoting the Prime Minister.
Responding to the PM’s remarks, Mahmud Hasan Khan said apparel sector entrepreneurs would have to take the lead in diversification, as the industry has built the country’s export base through decades of effort.
He said the BGMEA board has sought an appointment with the Prime Minister to present a detailed roadmap for diversification, along with supporting documents.
Mahmud Hasan Khan made the remarks after a meeting with the Prime Minister at the Secretariat on Monday afternoon.
Later, in a press release, BGMEA stated that the meeting placed special focus on product diversification, expanding export opportunities, and strengthening Bangladesh’s competitiveness in the global market.
The Prime Minister urged BGMEA to lead efforts toward export diversification, particularly by increasing the use of man-made fibers (MMF) to produce higher-value garments and enhance Bangladesh’s position in the global apparel market.
During the meeting, BGMEA President Mahmud Hasan Khan welcomed the government’s timely decision to establish a special fund for reopening closed factories.
He also stressed the need for utmost caution and transparency in selecting factories under the initiative to prevent any misuse of funds.
BGMEA president also proposed special policy support for factories currently struggling amid global and domestic challenges so they can remain operational and safeguard the jobs of millions of workers.
The Prime Minister agreed with BGMEA’s proposals, saying the government would place equal importance on reviving closed factories and supporting struggling operational factories.
The Prime Minister also said necessary policy support would be provided to genuinely affected factories based on BGMEA’s recommendations.
BGMEA also conveyed its gratitude to the Prime Minister for timely guidance, sincere cooperation, and commitment to the sustainable development of the country’s industrial sector and economy.
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