Bangladesh's growing prowess in RMG makes Chinese investors upbeat
Chinese investors are expressing optimism about Bangladesh's growing strength in the Ready-Made Garment (RMG) sector, as the country solidifies its position as a leading supplier of apparel globally. This is evident in the robust flow of orders from international clothing retailers and brands.
The surge in demand for various components such as fabrics, yarns, chemicals, dyes, and capital machinery used in the textile and garment industries has transformed China into Bangladesh's primary supplier. Industry experts estimate that Bangladesh imports nearly $20 billion worth of goods, including fabrics, from China.
The reliance on China has been increasing, given that local weavers can only fulfill 40 percent of the demand for woven fabrics. The remaining 60 percent is sourced through imports, primarily from China and India.
The favorable outlook for Bangladesh, coupled with the escalating production costs in China and a shortage of skilled workers, has prompted Chinese investors to turn their attention to Bangladesh. They are actively investing in the textile and garment sectors, recognizing the potential for growth and profitability.
Simultaneously, Chinese fabric sellers are strategically targeting export-oriented garment factories in Bangladesh that are experiencing a surge in orders from global retailers and brands.
Bangladesh, currently the world's second-largest apparel supplier, has already positioned itself as the leading denim exporter in Europe and the US. This accomplishment underscores the robustness and competitiveness of the country's garment sector on the global stage.
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