Challenges facing RMG sector

For several decades, the Ready-Made Garment (RMG) industry has been a leading contributor to Bangladesh's export revenues. Despite remarkable achievements, such as having the highest number of LEED-certified factories globally, the industry continues to face numerous challenges. Political instability within the workforce significantly impacts the sector, while the ongoing energy crisis hampers production. Additionally, production costs in Bangladesh exceed those of neighbouring countries, forcing factories to accept disproportionately low prices to avoid idleness or losing orders to competitors. As a result, buyers often have considerable leverage in price negotiations.
Alarmingly, despite ranking second globally in market share, Bangladesh lacks a strong presence of local retail brand chains, which is a cause for concern. It is hoped that the apex representative body of the RMG sector will address these issues, enhancing the industry's control over its own future.
Rafid Alam
Dhaka
[email protected]