WB suggests more investment in RMG sector
Thursday, 28 June 2007
Apprehending job loss after removal of the multi-fibre agreement the World Bank has suggested further investment in RMG sector of Bangladesh to make it more competitive, reports UNB
The apprehension of the lending agency was manifested in its report titled 'Reducing poverty in Dhaka: A priority for all'.
"The impact of the removal of the Multi-Fibre Agreement quotas on the readymade garment (RMG) sector at the end of 2004, while being difficult to quantify, will likely result in job losses and so, the country will have to invest in making this sector more competitive," the report said.
It suggested to develop and implement a comprehensive strategy for urban poverty reduction, reform and build the capacity of key urban agencies and institutions, implement the National Housing Policy to ensure shelter for the poor, improve service delivery and access to infrastructure for the urban poor and address crime and violence in slum areas to uplift the condition of the poor people in Dhaka.
It mentioned that most migrants, who are coming from rural areas, seek job and better access to services. "Their contribution to Dhaka's economic growth is significant, as they provide much needed labour to manufacturing, services and other sector," the report added.
The apprehension of the lending agency was manifested in its report titled 'Reducing poverty in Dhaka: A priority for all'.
"The impact of the removal of the Multi-Fibre Agreement quotas on the readymade garment (RMG) sector at the end of 2004, while being difficult to quantify, will likely result in job losses and so, the country will have to invest in making this sector more competitive," the report said.
It suggested to develop and implement a comprehensive strategy for urban poverty reduction, reform and build the capacity of key urban agencies and institutions, implement the National Housing Policy to ensure shelter for the poor, improve service delivery and access to infrastructure for the urban poor and address crime and violence in slum areas to uplift the condition of the poor people in Dhaka.
It mentioned that most migrants, who are coming from rural areas, seek job and better access to services. "Their contribution to Dhaka's economic growth is significant, as they provide much needed labour to manufacturing, services and other sector," the report added.