Category Archives: Textiles/Ready Made Garments/Accessories/Footwear/Sports Goods

Jamdani brings new life to villagers in Iswardi

http://www.daily-sun.com/details_ds-jamdani-brings-new-life-to-villagers-in-iswardi_358_1_3_1_28.html

Jamdani brings new life to villagers in Iswardi

Our Correspondent, Pabna

The undying popularity of traditional Jamdani saree now boosted the economic life of people of two villages under Iswardi upazila of Pabna district.

Nearly 5 hundred families of Muhammadpur and Purbo Tangri villages of the upazilla are currently engaged with the cottage industries of Jamdani saree and Karuchupi Shilpo (decoration of sarees), say the industry insiders.

The weavers of Jamdani indutsty include mainly the rural women who by their fine hand skills stitch the cloth to make sarees of luxury decoration. Hand-stitching is the main feature of Jamdani saree.

This kind of luxury sarees are highly sought after by the Bangalee women who usually wear different festivals like wedding, Eid and Puja.

Although the women of these villages are increasingly getting involved with this industry, there were very few number of women engaged in weaving Jamdani saree here.

“Earlier, few women of these two villages were involved with this profession. But currently, one or two women of almost every house are engaged in this industry,” said Kamrul Hasan, an owner of a Benarosi factory in Purbo Tangri village.

As the business is rapidly burgeoning, the male members of the families have already joined their hands with female weavers in a bid to take the industry to further development. According to the villagers, more than 15 factories have so far been set up in these villages and the produces are supplied to Dhaka and other nearby district markets.

The artisan mainly gets orders of sarees from nearby Jamdani Palli or other clothes traders. They take five to seven days for ornamenting a piece of saree and charge Tk 1,000 to 6,500 depending on its type, size, design and other criteria, a worker said.

“Normally these types of sarees are sold in between Tk 1000 and 2,500. But after decoration, the price of a saree goes up to Tk 8,000 to 10, 000,” he said.

The weavers use chumki and puthi along with boutique works and adding other costly materials for ornamenting a saree.

Badal, a Karuchupi worker, said: “Before Eid or any such festivals, we usuallly get orders for 10 to 20 pieces of sarees per week, but during Eid, Puja or other festivals, the orders go up to 100 pieces per week.”

Aminul Islam Rubel, another worker, said three to five workers remain engaged daily to prepare a saree. The Karuchupi factory owners underscored the need for government’s supports for further growth of the industry. If the government comes up with necessary policy and support, the Jamdani industry can be expanded further and thus it will generate more employments, they said.

Germany’s Multiline to invest $200m to set up textile factories

http://www.bssnews.net/newsDetails.php?cat=2&id=204117&date=2011-10-04

Germany’s Multiline to invest $200m to set up textile factories

Multiline factory. Source: http://www.multilinebd.com/index.html

DHAKA, Oct 4 (BSS) – Multiline Textil GmbH, a leading German company, will invest 200 million US dollars to set up textile factories in Gazipur, Commerce Minister Lt Col (retd) Faruk Khan said here today.

“Germany’s multiline plans to invest US$200m to set up textile factories in Bangladesh,” Khan said while talking to reporters over the outcome of his recent visit to Germany at his Secretariat office here.

The commerce minister had a visit to Germany to attend the Show, ‘Branding Bangladesh’, organized by Bangladesh German Chamber of Commerce and Industry (BGCCI).

Khan said upcoming state-of-the-art knit composite manufacturing facility will have 14 factory halls employing more than 10,000 workers, once it goes into production.

This will be one of the world’s largest textile factories and will be five times bigger than its nearest local units.

The factory will have all the forward and backward linkages – – spinning, weaving, dyeing and washing and sewing in one compound.

It will follow social and environment compliance strictly, implementing strict Eco-Tex 100 guidelines and set up a big effluent treatment plant.

Germany is Bangladesh’s second largest export destination after the US. Bangladesh exports knit and woven garments, home textiles, jute and jute goods, leather goods and frozen items and medicines to Germany.

Bangladesh exported goods worth US$3438.70 million to Germany during 2011-12 fiscal against its import of US$691.30m during the period.

Garment, knitwear makers bag $75m export orders from US

http://www.bssnews.net/newsDetails.php?cat=2&id=204071&date=2011-10-04

Garment, knitwear makers bag $75m export orders from US

DHAKA, Oct 4 (BSS) – Bangladeshi Garments and knitwear manufacturers have bagged export orders worth US$75 million from the Magic Sourcing Show- 2011 held recently in the United States (US).

According to a statement issued by the Export Promotion Bureau (EPB), Bangladeshi exhibitors drew great attention from the visitors during the event resulting in big success in the export promotion initiative.

The export order is US$18 million more than last year’s.

The four-day ‘Men’s Apparel Guild in California (MAGIC) show ended in Las Vegas, Nevada, August 24, 2011.

Under the auspices of the Export Promotion Bureau (EPB),a total of 21 garment manufacturers and the state-run EPB participated in the trade show, the largest in North America.

A delegation from Bangladesh, led by Chairman of the Parliamentary Standing Committee on the Ministry of Commerce ABM Abul Qasem, attended the MAGIC showcase. They visited Bangladeshi stalls and exchanged views with the exhibitors.

MAGIC is the largest trade show in the North America, which organizes two shows annually — one in February and the other in August.

The Magic Show is positioned as one of the most comprehensive trade events for giving an insight into the apparel industry. The MAGIC Show is a good place for businessmen to understand new trends in business and develop innovation matching fashion trend.

The event provides opportunity to establish links with the chain stores in the international arena. It proves to be a connecting link for more than 700 manufacturers, fabric and trim suppliers, print and design studios, service providers in more than 40 countries.

Of the total garments export from Bangladesh, 56 per cent go to European countries, 25 per cent to the USA, five per cent to Canada and the rest to the other countries on the globe, says Bangladesh Garments Manufacturers and Exporters Association (BGMEA).

Germany keen to import more RMG products

http://www.newstoday.com.bd/index.php?option=details&news_id=40478&date=2011-10-04

Germany keen to import more RMG products

Commerce Minister Faruk Khan, Bangladesh German Chamber of Commerce and Industry (BGCCI) President Saiful Islam and Executive Director of BGCCI Daniel Seidl seen, among others, at a diner party hosted at Hotel Breidenbacher Hof in Duesseldorf on Tuesday.

News Report

German businessmen show keen interest to import more Bangladeshi products particularly readymade garments.

This interest was shown at a meeting with the visiting members of the Bangladesh-German Chamber of Commerce and Industry (BGCCI) at a dinner party at the Hotel Breidenbacher Hof in Duesseldorf, hosted by McKinsey & Company – the world´s leading top management company – and the Bangladesh German Chamber of Commerce and Industry (BGCCI).

Today the trade volume between Bangladesh and Germany amounts to over USD 4bn with a trade surplus in favor of Bangladesh.

Germany is Bangladesh’s largest export market in Europe and second largest export destination worldwide. In fact Germany is importing more than 11% of the total textiles and clothing export from Bangladesh and 15% total export of Bangladesh.

New business sectors are coming up and the image of Bangladesh is nowadays increasing in Germany and Europe.

Commerce Minister Faruk Khan attended a dinner party with some leading German RMG buyers who sell textiles products valued at 40 billion US dollars.

Dr. Berg, partner at McKinsey & Company presented its findings on a study called “Bangladesh RMG – The challenge of growth”, which will be published in November 2011.

Bangladesh has become the third-largest supplier for the European clothing market.

Germany is the largest textile and clothing importer in the EU and second largest in the world.

The top managers from companies like Adidas, C&A, NKD, Esprit etc appreciated the chance to discuss with Commerce Minister Faruk Khan and BGCCI President Saiful Islam.

Bangladesh third largest apparel exporter to EU

http://www.daily-sun.com/details_ds-bangladesh-third-largest-apparel-exporter-to-eu_349_1_3_1_12.html

Bangladesh third largest apparel exporter to EU
Faruk Khan to hold meetings with German officials, traders
Business Desk

Bangladesh has become the third largest apparel exporter to the European countries and Germany is the largest textile and clothing importer among the EU countries and the second largest in the world.

This was revealed at a report styled “Bangladesh RMG: The challenge of growth”, to be published in November 2011. Dr. Berg, partner at McKinsey & Company presented the first findings on the study, according to a message received here yesterday.

The announcement was made at a dinner hosted yesterday in honour of the leading German RMG sector representatives for sales of Bangladeshi apparels worth US dollar 40 billion.

Bangladesh Commerce Minister Muhammad Faruk Khan met the representativesat the dinner at Hotel Breidenbacher Hof in Duesseldorf, Germany.

The Bangladesh-German Chamber of Commerce and Industry (BGCCI) and McKinsey & Company – the world’s leading top management company organised the function.

Top officials from companies like Adidas, C&A, NKD, Esprit attended the function. They also discussed with Commerce Minister Faruk Khan and BGCCI President Saiful Islam. During the dinner that lasted for more than three hours, the Bangladesh Minister in focused the opportunities and issues related to business in Bangladesh including infrastructure, political unrest, strikes, labor, compliance and raw materials.

“The evening was a big success in branding Bangladesh,” said Daniel Seidl, executive director of BGCCI. During the week long visit in Germany, Faruk Khan is expected to speak to businessmen, investors, media people and government officials of German to improve trade and investment.

China to lose out to Bangladesh by 2016

http://www.theindependentbd.com/business/others/72424-china-to-lose-out-to-bangladesh-by-2016.html

China to lose out to Bangladesh by 2016
Say global apparel market experts
Author / Source : STAFF REPORTER

Dhaka, Sept 26: Global market experts expect Bangladesh to replace China by 2016 as a large production base for apparel as vendors of the biggest Asian country now face some key challenges such as labour shortage, high wages, raw material price rise and unfavourable custom duty. They said apparel buyers are shifting respective sourcing from China to Bangladesh and other South Asian and Indian sub-continent countries due to lower labour cost, improved labour skills and infrastructure (raw materials and vendor base) and  more favourable custom duty.

“Bangladesh will become a large production base for global apparel by 2016 as sourcing from China will decline by 6 to 11 per cent in the next five years, while Bangladesh is expected to grow by 6 per cent annually,” said Edmond Fung, marketing coordinator for the Asia region of YKK Bangladesh Pte Ltd, at a function titled “YKK Global Marketing Forum 2011,” held at a city hotel on Sunday night. He said China now moves to high-end fashion and it will finally grab 30 per cent of global apparel sourcing even after the shifting of sourcing from China.

YKK Group is the world’s largest zipper manufacturing company having a large plant in Dhaka Export Processing Zone (DEPZ) that produces 350 million to 500 million pieces of zipper every year.

Speaking on the occasion, Kosuke Miimi, managing director of the company’s Bangladesh plant, has offered negotiable price and quick delivery to buyers for fresh orders.

“YKK has reduced its lead time and considering negotiation with parties for prices in case of fresh orders. It is efficiently capable to produce large quantity of quality products with diverse design as it has raised the plant capacity,” Miimi told the Forum.

He said implementing good business governance by sharing global information on apparel market by the industry stakeholders can bring welfare for not only the YKK alone but also for the country.

Around 400 local merchandisers, who originally serve for various global buyers and local export-oriented readymade garment manufacturers, have joined the forum.

YKK’s global marketing experts have conveyed the information regarding challenges and opportunities of the global apparel market and share the understanding among forum participants with regard to the global buyer prospects in different aspects for the new millennium.

Blake Alexander Walden, senior marketing specialist of GMG (Global Marketing Group), USA, Wiktor Wojciech Kaczmarek of GMG’s EMEA (Europe- Middle East & Africa)  co-ordinator and T Oshimitsu Hayashi, managing director of YKK Hong Kong, spoke at the function, among others.

Meanwhile, YKK top officials said the YKK Forum basically creates tremendous and fruitful guidelines for apparel makers in the region for highlighting  global buyer trends as well as their new specifications for the competitive market.

YKK Bangladesh Pte Ltd, a concern of YKK, the leading Japanese zipper company, was established in 2000. It executed the second phase expansion in 2004. Now the third phase expansion is under process. Commercial operation, which is expected to start from 2012, will see the factory grow by 45 per cent before 2015.

Sales goals from the plant are US$ 78 million by 2015 and the total investment in expansion will be US$ 34 million over four years, according to the company officials.

Bangladeshi cheap clothes may bring respite to Indian consumers

http://www.newstoday.com.bd/index.php?option=details&news_id=39754&date=2011-09-25

Bangladeshi cheap clothes may bring respite to Indian consumers

Bangladesh apparel products are expected to flood shortly the retail shelves in India as big retailers have started placing orders with Bangladesh garment manufacturers under duty and quota-free arrangement, reports BSS.

Bangladesh clothes, cheaper by at least 20 per cent than India, will bring respite to Indian consumers, especially for the middle class, reeling under steep hike of garment prices, according to India’s Clothing Manufacturing Association (CMA) and Federation of Hosiery Manufacturers Association of India (FHMA).

Creative Group, a leading Indian apparel firm, having outlets in Mumbai, Bangalore and Kolkata has already placed orders with Bangladesh textile manufacturers, said managing director Rahul Mehta while talking to journalists in Mumbai. Creative Group is also a leading Denim exporter to Bangladesh.

Like Creative Group, other established brands and retailers might eventually shift majority of their manufacturing to Bangladesh and route finished apparel products back to India under duty and quota-free arrangement, he added

“With the withdrawal of duty and quota restrictions on Bangladesh apparel imports, Indian retailers have a lot to cheer. Consumers too should be happy with internationally-reputed clothes coming from Bangladesh,” said Rajiv Dayal, managing director of Mafatlal Denim while giving his reaction to journalists on removal of India’s restriction on Bangladesh.
CMA and FHMA think that duty and quota-free access of 46 garment products would not affect India’s large textile manufacturers which are into retailing.

But some small retailers in West Bengal, Ludhiana and Gandhinagar that do no capacity to set up shop in Bangladesh are likely to be affected to some extent, say CMA and FHMA that have separate assessments on the probable impact of duty and quota- free entry of Bangladesh garments into Indian market.

According to CMA and FHMA, the duty and quota free market access of Bangladesh textiles will have a long-term positive impact on India as such a step would block backdoor entry of cheap fabrics into India from China, the strong competitor in international trade.

“Joint ventures between India and Bangladesh textile companies will also hold back Chinese firms or exporters from building any joint-collaboration in Bangladesh that will also help stop Chinese entry into India via Bangladesh,” says a CMA official.

To effectively deal with the fast growing Indian clothes market, Bangladesh apparel manufacturers have suggested organizing single country apparel fair in all big cities such as Delhi, Mumbai, Madras, and Bangalore to give Indian retailers a clear idea about Bangladesh garment products and the quality.

“We’re already in Indian market —- but we need to take preparation because duty and quota free market access has given us a more wide scope to consolidate our position in the India’s $ 30 billion clothes market,” said former BGMEA president Abdus Salam Murshedi.

He urged the government to take steps to equip BSTI and land ports with modern instruments on an urgent basis to facilitate apparel export to India.

“We’re waiting for terms and conditions regarding export of garments to India. Ministries concerned of Bangladesh and India will frame it through mutual discussion as it is required for both importers and exporters,” said Fazlul Haq, former president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

“I am going to Delhi on October 6 to meet potential buyers,” said Fazlul Haq, owner of Plummy Fashions Ltd that manufactures and exports knit products to European market.

In garment export, Bangladesh has outstripped India as it exports about 50 percent more than India because of cheap labour — almost one-third of the Indian labour costs—cheap power and 30- 40 percent lower production costs have made Bangladesh a cost-effective textile hub for Europe and the United States.

Pak textile industry turns to Bangladesh

http://www.theindependentbd.com/business/finance/71980-pak-textile-industry-turns-to-bangladesh.html

Pak textile industry turns to Bangladesh

Bangladeshi Textile worker. Source: http://www.bangladeshembassy.com.cn/

MASHIUR RAHAMAN, back from Karachi

DHAKA, SEPT 23: Pakistan’s once-thriving textiles industry now faces hard time. In a country plagued by political violence and longstanding energy crisis, investment drain-out has forced the textile business to move to other countries, most notably, Bangladesh. Industry experts said conditions in Bangladesh are favourable and this is luring Pakistani businessmen to relocate or expand their business to Dhaka. They cited certain advantages for Pakistani businessmen in Bangladesh, such as having a common history and culture, more investor-friendly policies, cheap labour and tax-free access to 37 countries, including the European Union, Canada and Australia.

Rafiq Habib Godil, chief executive officer of Pakistan’s leading apparel-maker, Unicon International (Pvt) Ltd, is all set to relocate the company’s machineries, worth Rs 8 million, to Bangladesh as part of its desperate survival strategy.

“Our country can’t even ensure a minimum supply of power to the factories. So, we have no alternative but to shift our business centres,” he said. Bangladesh has become the most likely choice for investors. In Karachi alone, owners of textile factories, worth USD 600 million, had gone bankrupt last year.

“We can only remain operational on 235 days a year at the most, owing to irratic power supply. Lack of supportive policies and abrupt hike in power tariff has also contributed to our decision to relocate our business,” he added. He, however, declined to comment on Pakistan’s internal security concerns.

“Bangladesh too has its share of energy problems. But they seem to manage it well,” said Tauseef Salamat, owner of Tauseef Enterprises. Like Unicon International, Salamat opened two factories in Dhaka about three years ago, and he is now contemplating opening a third unit in Bangladesh. “The energy crisis in Pakistan has increased the cost of doing business,” he added.

Although such relocation of the textile business does not feature in any official data, interviews with a string of Pakistani businessmen revealed that at least a dozen companies have set up factories in Bangladesh.

“Our decision to expand operation in Bangladesh is, of course, aided by a thriving business there. We are overbooked,” said Salamat, whose firm produces products for brands like Adidas and Nike. Masood Textile Mills, a large knitwear exporting company, is going to set up a sewing plant in Bangladesh.

“In Pakistan, we can’t work three days a week because of power cuts. There the industry works at only 30-40 per cent of its full capacity,” said Wasim Latif, chairman of the Pakistan Textile Exporters Association (PTEA). He rued the fact that foreign buyers are reluctant to place orders in Pakistan owing to security concerns. Last year, Bangladesh nearly doubled its minimum monthly wage to Tk. 3,000 for workers in the garments industry. However, the pay is still low compared to China, India, Vietnam, Thailand and Cambodia. At a government-set Rs 7,000 (USD 80.55), Pakistan’s minimum monthly wage is much higher than that in Bangladesh, said Latif.

While Bangladesh has its own power problems, facing up to 2,000 MW of shortage, it is taking firm steps to address the energy crisis. The government is aiming to triple power generation to 15,000 MW over the next five years, and plans to build 89 power plants on a fast-track basis.

Pakistan – beset by crises on multiple fronts – is struggling to tackle its energy problems. The country is facing a gas shortfall of nearly 2 billion cubic feet per day. The total electricity demand in summer months outstrips the supply by 22 per cent – or about 6,000 MW – during peak hours.

“Textile manufacturers of Pakistan are looking for new homes, and Bangladesh could provide them with a better choice,” said Abdus Salam Murshedy, president of the Exporters’ Association of Bangladesh. Bangladesh is also offering tax holidays up to 10 years to foreign investors, as well as duty-free import of raw materials and repatriation of capital and profits, he added.

Classified as a least-developed country, Bangladesh enjoys duty-free export facility to 27 European Union countries, and 10 other developed countries, including Japan, Canada and Australia, under bilateral agreements. Pakistan, on the other hand, faces higher tariffs in the EU and US markets, putting its exporters at a disadvantage.

Easy availability of cheap labour has enabled Bangladesh to join the global supply chain for low-end textiles and clothing. It has also helped the country to manufacture garments for international brands, such as JC Penney, Wal-Mart, H&M, Kohl’s, Marks & Spencer and Carrefour.

“Obviously, the investment climate in Bangladesh is positive owing to a number of reasons like attractive incentive packages earmarked for foreign investors, better political condition and relative social stability. Besides, promises to ensure required infrastructure has also been instrumental in luring Pakistani investment,” said Mr Godil, former chairman of the Pakistan Knitwear and Sweater Exporters Association (PKSEA).

Pakistan’s textile industry accounts for 38 per cent of workers in the country’s manufacturing sector and more than half of its exports, which stood at nearly USD 25 billion in 2010-11.  Textile exports rose by 35 per cent to USD 13.80 billion in the fiscal year owing to high cotton prices. However, it came down by 15 per cent in July.

China’s rising cost benefits Bangladesh: KPMG report

http://newagebd.com/newspaper1/business/33849.html

China’s rising cost benefits Bangladesh: KPMG report
Bangladesh Sangbad Sangstha . Dhaka

Bangladesh and Indonesia are benefiting most as rising costs in China force firms to switch production, according to a report of KPMG, the Netherlands-based research organisation.

KPMG is one of the largest professional services firms in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC.

The report was based on interviews with 12 major multinational companies including Ikea, B&Q-owner Kingfisher and Hong Kong’s Li & Fung, which sources goods for big-name clients including Wal-Mart.

The latest report says that production of clothing and footwear is now more widely dispersed across Asia, with Indonesia and Vietnam specialising in the production of footwear and India developing a niche in hand-stitched fabrics and metal ware.

According to KPMG estimates, Indonesia’s footwear exports grew by 42 per cent in 2010 to $2.1 billion, while Bangladesh saw textiles exports grow by 43 per cent to more than $18 billion in the year to July 2011.

With increasing labour costs, rising inflation and a strengthening currency, China is losing its foothold as the world’s lowest cost manufacturer of consumer goods, it says.

According to the KPMG report, that minimum wage levels in China are now four times greater than other places in South and South East Asia. However, the report says, China can defend its position because of its productivity and infrastructure. China is still dominant in the production of goods such as consumer electronics and furniture.

‘Sourcing goods in China purely because of ultra-low costs is a thing of the past,’ said Nick Debnam, KPMG’s Asia-Pacific chair. ‘With demand still soft in many Western consumer markets, it is also proving difficult for companies to pass on higher costs to consumers. This changing environment is forcing companies to reassess sourcing strategies,’ it added.

China is battling its highest rate of inflation in three years although the latest consumer prices data from August suggests that the rate is beginning to ease.

While much of China’s manufacturing has begun to migrate westwards from the south and east of the country to cheaper provinces such as Sichuan, the report says the cost advantages from such moves inland may be short-lived. KPMG says that China’s increasing manufacturing costs are more to do with the country’s demographics.

China’s one-child policy has resulted in a ‘sudden and serious’ shortage of the labour that gives workers in both the richer coastal provinces and poorer inland areas the leverage to demand higher wages, it said.

Bangladeshi apparel exporters said the country enjoys a high competitive edge in terms of skilled labour and low cost in the world’s apparel sector compared to its competing countries.

Korean company to invest $4.8 million in CEPZ

http://www.bssnews.net/newsDetails.php?cat=2&id=201269&date=2011-09-20

Korean company to invest $4.8 million in CEPZ

DHAKA, Sept 20 (BSS) – A Korean company, M/s TK Outdoor Ltd, will invest about 4.8 million US dollars in the Chittagong Export Processing Zone (CEPZ) by setting up a garment accessory manufacturing industry, a press release said here today.

An agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s TK Outdoor Ltd, in the BEPZA Complex here today in this connection.

Md Moyjuddin Ahmed, Member (Investment Promotion) of BEPZA and J H Keum, Managing Director of M/s TK Outdoor Ltd. signed the agreement on behalf of their respective organizations.

BEPZA Executive Chairman Major General A T M Shahidul Islam, Member (Engineering) Abu Reza Khan, Secretary Md Shawkat Nabi, General Manager (Investment Promotion) A Z M Azizur Rahman, General Manager (Public Relations) Mahmud Hasan, among others were present at the signing ceremony. The investment is expected to create an employment opportunity for 360 Bangladeshi nationals, the press release said.

Small, medium RMG units to get 5pc cash incentive

http://newagebd.com/newspaper1/business/33734.html

Small, medium RMG units to get 5pc cash incentive

Staff Correspondent

The Bangladesh Bank on Sunday decided that small and medium apparel exporters would get a 5 per cent cash incentive for finding new markets, besides the 5 per cent subsidy they already enjoyed.

The BB also decided that small and medium readymade garment units that used captive power plants of less than 1MW capacity would get 10 per cent rebate on their bills for on-grid power.

The central bank issued a circular on the day amending two circulars issued in 2010 on providing cash incentives to the RMG industry.

As per the earlier circulars, the export-oriented apparel units are getting a 5 per cent cash subsidy.

From now on, the small and medium garment factories will get an additional 5 per cent cash incentive for finding new markets.

The large exporters will continue to get 2 per cent cash incentive for finding new markets, except in the United States, European Union, and Canada, along with 5 per cent cash subsidy.

BB officials said, although the earlier circulars said that all small and medium apparel industries that did not have captive power generator would get a 10 per cent rebate on power bills, as per the central bank’s latest circular, the industries that had power generators of less than 1MW capacity would get the rebate.

The government, on November 25, 2010, announced a Tk 1,000 crore second economic stimulus package for export industries to help the country’s export sector withstand the adverse impacts of the global recession.

British Virgin Islands company to invest $9m in Adamjee EPZ

http://www.bssnews.net/newsDetails.php?cat=0&id=180496&date=2011-05-29

British Virgin Islands company to invest $9m in Adamjee EPZ

DHAKA, May 29 (BSS)- Ribbon and Bow Factory Limited, a British Virgin Islands company, will set up a garment accessories manufacturing industry in the Adamjee Export Processing Zone.

This fully foreign-owned company would invest 9 million US dollars in setting up their unit that will manufacture all kinds of garment items. It will create jobs for 520 Bangladeshi nationals.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority and Ribbon and Bow Factory Limited in BEPZA Complex, Dhaka recently.

A Z M Azizur Rahman, General Manager (Investment Promotion) of BEPZA and Chan Man Piu, Chairman of Ribbon and Bow Factory Limited signed the agreement on behalf of their respective organizations.

Major General A T M Shahidul Islam, Executive Chairman, Abu Reza Khan, Member (Engineering), A K M Mahbubur Rahman, Member (Finance), Md. Shawkat Nabi, Secretary, and other officials of BEPZA were present at the signing ceremony.

Yagi keen to set up RMG industry in Bangladesh

http://www.theindependentbd.com/business/others/52143-yagi-keen-to-set-up-rmg-industry-in-bangladesh.html

Yagi keen to set up RMG industry in Bangladesh
UNB

Dhaka, May 26: Japanese company Yagi and Co Ltd has expressed its eagerness about setting up state of the art technology-based readymade garments industry in Bangladesh. The company has already set up a hi-tech industry in Bangladesh named Yagi Bangladesh Garments Ltd, under a joint investment of $4 million and the company wants to invest more in Bangladesh as long as it gets support from the government. A visiting delegation of Yagi and Co expressed their keenness on such matters during a meeting with Industries Minister Dilip Barua at his Shilpabhaban office today.

Company director on Foreign Operation Soichiro Inoue, Japan Unit general manager Kenya Suzuki, Yagi Bangladesh Garments Ltd managing director Shigehiko Mochida, Bangladesh partner Kamrul Islam and administrative coordinator Umme Salma Rahman were present. The delegation members in the meeting informed that there is a $310 billion market for RMG goods globally, and Japan is the third-largest exporter.

The Japanese entrepreneurs are keen to shift their factories to Bangladesh from China, Thailand and Vietnam due to increasing labour costs in those countries, and the efficiency of Bangladeshi workers in RMG sector. Industries Minister Dilip Barua listened to the delegation members and said Bangladesh is a lucrative destination for investment in the Southeast Asian region.

He said the government is encouraging foreign investment for rapid and sustainable industrialization. Barua informed that the government has taken steps to set up an industrial park on 20,000 acres of land at Ichakhali of Mirsharai upazila, where foreign investors will enjoy special privileges.

Apparel export to Japan on the rebound after dipping in March

http://newagebd.com/newspaper1/business/20050.html

Apparel export to Japan on the rebound after dipping in March
Kazi Azizul Islam

The country’s garment export to Japan, after taking a short but sheer plunge of around 25 per cent in March year-on-year, when the Asia’s second largest economy had been reeling under the triple disaster of earthquake, tsunami, and nuclear crisis, rebounded in April and since been on the rise, trade watchers said on Wednesday.

‘Traffic congestion in Japanese seaports and airfields in March following the earthquake and tsunami resulted in either suspension or deferred delivery of many garment shipments from Bangladesh,’ Japan-Bangladesh Chamber of Commerce and Industry president Takashi Suzuki told New Age.

However, the export volume of made-in-Bangladesh apparels to Japan started to bounce back in April and the trend is on, Suzuki said. ‘The temporary decline in delivery has been on the mend and I see Bangladesh’s garment export to Japan to reach its previous volume very soon as Japanese importers are really keen to procure more and more apparel products from this country,’ Suzuki added.

The deadliest earthquake in Japanese history on March 11 followed by an equally fatal tsunami wreaked havoc on eastern Japan, nearly paralysing the air- and sea-ports in the region.

Japanese official data shows that the volume of apparel export from Bangladesh to the land of rising sun in March stood at 1,46,580 dozens of clothes, posting nearly a one-fourth fall from 1,92,799 dozens of clothes in March 2010.

A sharp increase in the export of Bangladeshi garments to Japan made many Bangladesh exporters upbeat in the past couple of years before March.

The government and industry leaders also maintain that a significant export rise of garments to Japan would help Bangladesh attain much in diversifying its market.

Bangladesh Knitwear Manufacturers’ and Exporters’ Association former president Fazlul Haque told New Age on Wednesday that the rules of origin recently simplified by the Japan government would boost the export of Bangladeshi knitwear to that country.

Bangladesh’s annual export of garments to Japan crossed $200 million mark in 2010, posting a more than 50 per cent growth over the year.

Industry people said Bangladesh’s share in Japan market was still tiny but attaining a $1 billion share in the $30 billion apparel import by Japan per year was very much possible.

Korean company to invest $5m in Ctg EPZ

http://www.bssnews.net/newsDetails.php?cat=2&id=178021&date=2011-05-15

Korean company to invest $5m in Ctg EPZ

DHAKA, May 15 (BSS)- A Korean company will set up a shoe and bag manufacturing industry in the Chittagong Export Processing Zone (EPZ) investing 5.025 million US dollars.

The company, M/s Hana S & B Limited, signed an agreement with the Bangladesh Export Processing Zones Authority to this effect in the BEPZA Complex here today.

The fully foreign owned company will manufacture all kinds of shoe and bag, and create jobs for 688 Bangladeshi nationals.

A Z M Azizur Rahman, General Manager (Investment Promotion) of BEPZA, and Sang Tae Kim, Managing Director, M/s Hana S & B Limited, signed the agreement on behalf of their respective organizations.

Executive Chairman of BEPZA Major General ATM Shahidul Islam, among others, was present at the signing ceremony.