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Experts at a seminar on apparel industry said Bangladesh government should promote establishment of environment-friendly apparel factories by ensuring 9.0 per cent interest on loans.
They said the loans will be disbursed to entrepreneurs who intend to establish green factories, raise local textile plants with modern machinery, management practices, infrastructure development and enhance port facilities for efficient logistics in this fiscal year.
As the skill levels of the RMG workers have improved significantly over the years there has been a significant rise in the production of specialised items - a shift from the basic categories, the experts said.
They observed that with the introduction of advanced technology and machinery along with skilled labour Bangladesh is manufacturing everything and anything in the apparel industry.
They said this at the seminar on Driving Transformation in Bangladesh's Apparel Industry jointly organised by the PricewaterhouseCoopers BD Private Ltd and the BGMEA at the Radisson Blu Chittagong Bay View hotel in the city today.
Mamun Rashid, Managing Partner of PwC Bangladesh made the welcome address while Dr Hossain Zillur Rahman, Chairman, PPRC and former advisor to a Caretaker Government addressed the seminar as the chief guest.
Former BKMEA president Fazlul Haque made the keynote address while Pallab De, Partner, Management Consulting PwC, presented PwC Insights into the Bangladesh apparel industry.
PwC Partner Advisory Arijit Chakrabarti, Director Advisory Arun Ray Chaudhuri, BGMEA former first vice president MA Salam and former first vice president SM Abu Tayyab presented overview of the port city-based RMG industry.
Dr Hossain Zillur Rahman said the RMG sector is the key growth driver of Bangladesh and the industry now becomes the distant second largest global export sector after China due to the efforts of the individual entrepreneurs.
He said development of Chittagong Port is very critical and the government seems to have lack of attention on the issue. He suggested formation of a Better Business Forum-like body of the BGMEA, BKMEA and FBCCI to work out plans for the development of the RMG sector.
SM Abu Tayyab came down heavily on TV channel talk shows about the wages of the RMG workers. He said that the RMG industries are relentlessly working to improve the life standard of the workers and have ensured healthcare services for the workers.
But the vested quarters are playing foul with the industry and sending the videos of the talk-shows to the BBC and CNN to malign the RMG industry of Bangladesh.
This was the first ever PwC-organised seminar in the port city and the event was attended by many RMG industrialists from the region.
The experts said the target to achieve $ 50 billion export earning from apparel industry by 2021 is possible but very challenging as the growth rate remains in the noticeable declining trend over the years.
There is no significant change in the market share of RMG (readymade garments) exports in the EU countries over the last few years and the export diversification to non-traditional markets including India and Russia can provide a big opportunity of growth.