Message from Faruque Hassan, President, BGMEA

I am privileged to have this option to arrive at out to you once again right after pretty a extended time. It has normally been a satisfaction for me share and update you about the industry, trade and world-wide market place, and I would like to keep on this from now on regularly.

COVID has introduced us to an unprecedented situation we all know how tough has this been for us for the past 1 and half calendar year. The pandemic has affected men and women from all walks of the culture and economic climate. RMG industry has been especially impacted as we faced order cancellation and non-payment relevant challenges at unconventional proportion.

Factories ended up shut for 45-75 days, and exports dropped by 18% in FY2019-20 (i.e. July 2019 – June 2020). Manufacturing unit re-opening was also a demanding get in touch with considering the fact that we experienced to comply with stringent well being protocol. Thanks to my fellow business people for the resilience and commitment to bring our operations back again to normal rate.

We have to also pay back our gratitude to the govt of Bangladesh for the unparalleled help throughout the pandemic to help the sector stay on system. We are hoping to recover and switch all around yet again. Nevertheless export is recovering step by step, the field is battling with value and cost and our factories are struggling to get a breakeven rate.

Even so, the problems and uncertainties aside, we have some good information that I would like to share with you currently to give it an optimistic start off.  I am certain you have adopted the every day news and are already current.

It is a tremendous delight for us that BGMEA has been honored with the “2021 USGBC Leadership Award” for its exemplary management in advertising and marketing environmental sustainability and eco-friendly industrialization in the RMG field. BGMEA is the only association in the earth to get such award and to be regarded as the pioneer in world eco-friendly industries. 

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You would be glad to know that Bangladesh is the residence of the greatest amount of inexperienced garment factories in the globe. We have 144 LEED factories accredited by the U.S. Eco-friendly Creating Council (USGBC) of which 41 are Platinum, 89 Gold, 12 Silver, and 3 accredited factories. These factories are not only surroundings pleasant protected but also satisfy worldwide standard security and functioning atmosphere which include office hygiene, air high-quality, etcetera.

Needless to point out that the revolution which has occurred in the industry in the previous 10 a long time not only in the location of workplace protection but also in the location of getting inexperienced and resource-efficient has set an exclusive case in point in the planet. This would not have happened without having the vision and all out endeavours by the business owners, and we require to remember that all the transformation is taking place at a time when the industry is confronted with a number of problems locally and internationally. I salute my colleagues for taking the initiatives following going through all the odds and instability.

At the same time, enable me also share proudly that Bangladesh is ranked 2nd in Ethical Producing by a Hong Kong-dependent offer chain compliance methods supplier “QIMA”. With a score of 7.7 Bangladesh is rated only behind Taiwan who scored 8.. The moral auditing report protected a broad horizon of compliance and moral producing of the field i.e. hygiene, health and basic safety, waste administration, baby labor, labor tactics together with pressured labor, worker illustration, disciplinary tactics, discrimination, operating hours, wages, etcetera. In this challenging time of COVID, maintaining such degree of compliance only testifies our resilience and determination for the betterment of the employees, business and community.

At existing, Bangladesh is not only the next-biggest export earner or the exporter of basic garments item or the aggressive sourcing spot but also Bangladesh is the range 1 in terms of security, protection, atmosphere friendly, dependable, sustainable and trustworthy sourcing nation. Let me cite from the new study report by the globally reported consulting organization, McKinsey and Business, titled “What’s next for Bangladesh’s garments marketplace right after a decade of growth”. The report highlights the adjustments that have taken location in Bangladesh’s garment field about the previous 10 years in terms of transparency, basic safety and stability, diversifications, entrepreneurship, and strategic management.

We have to maintain and carry on all of these transformations and momentum that we have obtained, but most importantly we have to have to improve our business enterprise model. If we simply cannot up grade the company capabilities and price addition of the industry, the achievements in environmental and social fronts will be uncertain. So the future story of transformation should be all-around how we can go for innovation, up-gradation, value addition, diversification, and the 4th Industrial revolution. I would sincerely ask for all our colleagues to consider about these locations of organization excellence whilst setting up for enterprise investment decision for the following 10 years.