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Textile engineers, entrepreneurs unite to tackle RMG industry challenges
Leading figures from Bangladesh's RMG and textile industry gathered at a forum on March 3 to address critical challenges facing the sector.
The event, titled "Present Business Challenges & Possible Solutions," brought together over 40 textile engineer-entrepreneurs who collectively manage companies responsible for over $3 billion in annual exports, according to a press release.
Organized by the Institute of Textile Engineers & Technicians (ITET) and facilitated by Textile Today Innovation Hub, the forum aimed to foster collaboration and brainstorm solutions to the industry's top five challenges, it said
These challenges were identified as:
Skills gap and trust issues between employees and employers.
Rising operational costs coupled with declining selling prices.
Unreliable utilities and high energy costs.
Challenges from government agencies, including customs, VAT, and fire safety regulations.
Difficulties with non-government agencies, such as trade unions, banks, and vendors.
Through facilitated breakout sessions, attendees actively participated in generating potential solutions and sharing their expertise. Industry leaders, including Prof. Dr. Shah Alimuzzaman, Vice Chancellor of BUTEX, and Engr. Md. Shamsuzzaman, Managing Director of Micro Fibre Group, provided valuable insights on the discussed issues.
The forum served as a valuable platform for textile engineers and entrepreneurs to come together, share experiences, and work collaboratively towards addressing the industry's pressing issues. This collaborative approach holds the potential to drive positive change and ensure the continued success of Bangladesh's RMG and textile.
Apparel industry pivotal in economic growth but sustainability and ethical practices must be prioritised: Salman F Rahman
Prime Minister's Private Industry and Investment Adviser Salman Fazlur Rahman on Tuesday emphasised the apparel industry's critical role in the country's economic growth and underscored the importance of continuous innovation and sustainable practices.
“The apparel industry is pivotal in Bangladesh's economic growth and development. However, to sustain this momentum, we must prioritise sustainability and ethical practices,” he said while speaking at the Sustainable Apparel Forum (SAF) 2024.
Towards a sustainable and competitive apparel industry in Bangladesh and beyond, the Sustainable Apparel Forum (SAF) 2024 emphasized promoting decent work that focuses on a more ethical, equitable, and environment-friendly industry.
The Bangladesh Apparel Exchange, in partnership with ILO-IFC Better Work Bangladesh and in collaboration with GIZ and WaterAid, organised the SAF 2024 in Dhaka and convened government officials, industry leaders, and national and international partners to chart a path towards a more ethical and environmentally conscious future.
Hoarders of essential commodities to face action under Special Powers Act: Law minister
Highlighting the role of international cooperation, Ambassador and Head of Delegation of the European Union to Bangladesh, Charles Whiteley, reaffirmed the EU's commitment to supporting Bangladesh's efforts towards sustainability.
"Development cooperation plays a crucial role in promoting ethical practices, environmental conservation, and social inclusion within the apparel industry," Whiteley noted.
Circular economy, sustainable solutions, fair prices, ethical consumption — all in the mix at the Sustainable Apparel Forum — are vital to ensure that all stakeholders benefit from the green transition, he said.
As the second largest RMG exporter with over four million people employed in the sector, Bangladesh plays a critical role in the global apparel supply chain.
The SAF 2024 was designed to bring together industry stakeholders this year to foster dialogue, share best practices, and drive action towards a more sustainable future in the apparel sector.
"Demand for cotton products still large but non-cotton fibre products offer an important opportunity"
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has released a pioneering study report titled "Beyond Cotton: A Strategic Blueprint for Fibre Diversification in Bangladesh Apparel Industry".
The findings of this study were officially unveiled at the BGMEA headquarters in Dhaka on March 3.
The study was conducted by Wazir Advisors, an international consulting firm focused on sectors of textile, apparel, and retail. The comprehensive report signifies a paradigm shift in the industry's approach, recognizing the untapped potential and opportunities within the non-cotton textile and apparel value chain.
The report provides actionable recommendations, meticulously outlining a roadmap for the industry to navigate the complexities of diversification, presenting concrete steps for stakeholders to enhance their competitiveness on the global stage.
Faruque Hassan, President, BGMEA commented on the report stating “The findings and recommendation of this study are very important for our industry. It provides a roadmap for us to not only adapt to the evolving global market but to thrive in it. BGMEA is committed to fostering diversification and supporting exponential growth in the Bangladesh apparel industry. This report opens up new horizons for Bangladesh, and we are excited to embrace the opportunities it presents.”
Given the changing dynamics of the global fashion landscape, there is a notable shift towards fibres other than cotton. These fibres are not only synthetics (such as polyester & nylon); but also regenerated fibres (such as Viscose rayon), animal fibres (wool & silk) and even other vegetable fibres (such as linen).
While the demand for cotton products is still large, from a diversification perspective, non-cotton fibre products offer an important opportunity, said BGMEA.
By aligning with these evolving trends, Bangladesh can not only meet the changing demands of consumers but also position itself as a key player in the contemporary fashion industry.
The project lead from Wazir Advisors, Varun Vaid observed, “Addition of non-cotton products in Bangladesh’s export basket can enhance the total addressable market for the country. Bangladesh has already proved its mettle in the global apparel trade by emerging as the second largest exporting nation. With development of complete supply chain of non-cotton products, Bangladesh can aim to maintain its high growth trajectory”.
This study covers facts and figures about the changing fibre mix in the global context, emerging trends that will impact industry in future, an in-depth analysis of Bangladesh’s current value chain structure based on feedback of buyers, manufacturers & policy makers, comparison of Bangladesh with other leading non-cotton players such as China, Indian & Taiwan.
It sets the vision for Bangladesh’s non-cotton sector and the roadmap to achieve it.
The study will serve as a guiding compass, steering the Bangladesh apparel industry towards a future that embraces innovation, versatility, and sustained competitiveness in the ever-evolving global market.
Fuel price may decline with application of automated pricing guideline: Nasrul Hamid
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has indicated that the price of petroleum fuel may witness a decline with the application of the government-announced guideline for introducing their automated prices.
"We’re waiting for the approval of the Prime Minister for the guideline... If we can apply the guideline within the first week of March, we’ll hopefully see a decline in the price,” he told reporters.
The government on Friday issued a “Fuel Pricing Guidelines” through a gazette notification to set an automated price for the petroleum fuels across the country. It said the system will be effective from March.
Under the guidelines, prices of all the petroleum fuels including petrol, diesel, octane, kerosene, furnace oil, jet fuel, marine fuels will be set automatically on the basis of the international market price.
Nasrul Hamid said the government’s main priority is the adjustment in the price of the diesel as the most consumption comes from this petroleum product.
He noted that from now on every month there will be adjustment in fuel prices. “If we seek, the price declines in the global market, local consumers will benefit from it. Now the prices of fuel are at an economic level.”
He also said the local prices will go up and down in line with the international price and every month such prices will be announced by the government for one-month tenure.
Immediately after issuing the guideline on Friday, Energy Secretary Md Nurul Alam had said that it won't be effective from today (from March). “Since we have not yet received the Prime Minister’s approval to make the guideline effective, we’ve to wait for some more days,” he said.
“We hope we'll get the PM’s approval soon and will bring it into effect within 10-12 days,” he told UNB.
The Fuel Pricing Guidelines, however, giving an example for its effectiveness said that if it is planned to make effective from April 1, the prices of fuels of one month in the international market from February 21 to March 20 has to be taken into consideration to set an average price and then set the price for month of April.
About such contradictory instructions in the guideline, the energy secretary said that such an automated pricing system is a new thing in Bangladesh. So, the ministry itself is in some confusion.
“We’ll sit with the Bangladesh Petroleum Corporation (BPC) to remove all confusions and make the guideline clear to all,” he said. The BPC is the state agency for importing and marketing of petroleum products across the country.
In case of setting a price for any of the petroleum fuels, all the expenses including the international market price, import tax, advance income tax and valued added tax (VAT), operational expense, finance, administrative and maintenance cost, margins of BPC, VAT, and sale and distribution costs will be taken into account and then set a price.
A source in the Energy Division said that the price of octane will go below the price of diesel as soon as the automated pricing formula is effective.
“This is also a big concern for the government”, he said, adding that the government wants to keep the octane price higher than diesel,” he added.
Standard Chartered Bank launches bancassurance with MetLife
Standard Chartered Bangladesh (SCB) has launched its Bancassurance services as a strategic initiative aimed at providing comprehensive financial solutions to valued customers, in partnership with MetLife Bangladesh.
The launching event of Bancassurance (insurance through the banking system) was held in a city hotel on Sunday.
Speaking at the event, Naser Ezaz Bijoy, Chief Executive Officer, SCB said that this partnership will enable Standard Chartered’s clients to access a wide range of insurance products and services through the bank's extensive network of branches and digital channels.
As the first international bank SCB to launch Bancassurance in Bangladesh, he said.
“I have been advocating for Bancassurance since I took on the role of CEO Bangladesh – because, locally, life and non-life insurance has a 0.41 percent penetration to gross domestic product (GDP). This rate highlights immense potential for growth and development,” he pointed out.
Through Bancassurance, trained and certified colleagues of SCB will bring a one-stop financial service to the trusted clients and customers, he said.
“High uptake of Bancassurance will result in risk diversification, lower premiums, capital market development, and overall GDP growth. With the insurance sector poised to double in size by 2031 across the world, we are proud to partner with MetLife to implement Bancassurance in Bangladesh,” said the CEO of SCB.
Ala Ahmad, Chief Executive Officer, MetLife Bangladesh, said, “Our Bancassurance partnership with Standard Chartered reflects our long-term dedication to responsibly meeting the evolving needs of customers and strengthening their trust in insurance.”
He is confident that Bancassurance will emerge as an effective approach to financial security because it empowers Bank’s customers to manage their life priorities with MetLife’s trusted insurance solutions.
Standard Chartered and MetLife are two leading global financial institutions with a long history of serving customers in Bangladesh. Standard Chartered is the oldest bank in the country, with over 119 years of presence, while MetLife is the leading life insurer in Bangladesh.
Grameenphone introduces Premium Hollywood Streaming Platform ‘Lionsgate Play’ to Bangladesh
Telecom operator Grameenphone introduced “Lionsgate Play”, a premium Hollywood streaming platform, to bring the best of Hollywood entertainment to its customers through its MyGP app.
The operator claimed that their initiative demonstrates providing enriched content and meeting the demand for quality entertainment, and thus delivering a superior customer experience.
With the launch of “Lionsgate Play” in Bangladesh, Grameenphone’s customers can now enjoy a rich and diverse collection of over 18,000 movies and TV shows from Hollywood.
Lionsgate Play delivers a cinematic experience to customers fingertips, with exclusive access to blockbuster franchises such as John Wick, The Expendables, The Hunger Games, and SAW, as well as premium international titles such as Operation Fortune, Plane, Shotgun Wedding, The Wolf of Wall Street, Hitman’s Wife’s Bodyguard, Kill Bill, and many more.
Furthermore, with the “Single Sign-On” feature, GP customers can easily access Lionsgate Play on various platforms using their GP mobile number. They can also choose from 7-day or 30-day All-in-One simplified play packs to enjoy the premium content seamlessly not just within MyGP but through ‘Lionsgate Play’ mobile and TV application as well.
Commenting on the new partnership, Grameenphone’s Chief Digital Officer Solaiman Alam said, “OTT Content is constantly gaining traction these days, and Grameenphone’s purpose is to connect our users to what matters the most to them. Keeping that in mind, previously, we enabled users to enjoy contents on popular local and international streaming platforms through our data packs, and now we add Lionsgate Play to the list, further broadening our entertainment library with quality contents and cater to Hollywood enthusiasts. We are proud to be the first to launch Lionsgate Play in Bangladesh and thus enabling our users to have access to the largest library of content streaming partners available in Bangladesh.”
Vaibhavi Parik, Vice President, Lionsgate Play South Asia, said, “Our partnership with Grameenphone has marked a pivotal moment in our journey to further fortify our foundation across Southeast Asia. Through this association we look forward to providing our audience with seamless access to premium content and reaching the hearts and screens of the country. Our endeavor has always been to bring the world closer through entertainment, and we are happy that this collaboration has opened new doors to support the same.”
Upto Tk 10 lakh cashback on purchase of Marcel products ahead of Eid-ul-Fitr
Centering the upcoming Eid-ul-Fitr, electric appliance organization 'Marcel' has commenced 'Digital Campaign Season-20' with attractive customers' benefits on purchase of its various products.
In Season-20, customers are likely to get maximum Tk10 lakh cashback on the purchase of Marcel brand's fridge, TV, AC, washing machine and fan from any outlet across the country.
Besides, lakhs of taka worth sure gifts are offered to customers. These benefits of Season-20 came into effective from March 1. Customers will enjoy the benefits until further notice.
Marcel officials made the announcement at the declaration programme of 'Digital Campaign Season-20' held at a five-star hotel in the capital last Thursday.
The declaration programme was attended, among others, by the company's Additional Managing Directors SM Shoyeb Hossain Nobel, Major General (Retd.) Ibne Fazal Shayekhuzzaman and Nazrul Islam Sarker, Deputy Managing Director Humayun Kabir, Senior Executive Directors Didarul Alam Khan (Chief Marketing Officer), Tanvir Rahman, Tofail Ahmed, Sohel Rana, Mostafa Kamal, Abdullah Al Mamun, Shahjalal Hossain Limon, Amin Khan and Shahjada Salim, Marcel's Head of Business Matiur Rahman, Marcel Distributor Network's North Zone In-charge Qudrat E Khuda and South Zone In-charge Nurul Islam Rubel.
At the function, Marcel officials said that they have been conducting the digital campaign across the country to provide customers swift and best after-sales service through online automation.
Already, total of 19 seasons of the campaign have already been successfully completed. Each season has received an unprecedented response from customers.
To avail the Season-20's benefits, customers will have to do digital registration of their product after purchasing Marcel fridge, TV, AC, washing machine, and fan from any showroom in the country. After that they may get cashback up to Tk10 lakh or sure gift through an SMS from Marcel. Concerned showroom will hand over the awarded cashback or gift to customers.
During the digital campaign, some detailed information including buyer's name, mobile number and product's model number is being stored on Marcel's server through the registration system. As a result, customers can get quick service from any Marcel service center in the country even if they lost the warranty card. Besides the representatives of the service center can also know the customers’ feedback.
FBCCI demands modern logistics system for quick delivery of goods
Businessmen in the standing committee meeting of the Federation of Bangladesh Chamber of Commerce Industry (FBCCI) emphasised the development of a modern and quality logistics system for quick delivery of goods at affordable price.
Besides, the development of the logistics sector is very important in facilitating import and export to survive in the competitive world market.
The businessmen and entrepreneurs said these in the meeting of the FBCCI standing committee on logistics, courier service, and freight forwarding held on Saturday at the trade body’s Motijheel office.
FBCCI President Mahbubul Alam, connecting virtually in the meeting, said that efficient logistics, courier service, and freight forward sectors of the country must be developed in line with the import-export trade.
“Otherwise, we will fall behind in global competition,” he said.
“In line with the industrial policy, 21 sub-sectors should be given equal importance in the National Logistics Development Policy 2024,” he added.
The FBCCI President said that air, road, and rail communication should be increased in addition to sea communication for the development of an efficient logistics service sector in the future.
He wants to develop automation in all sectors so that obtain and renew all types of licenses from one place to reduce business costs and ease of doing business.
Hafizur Rahman Pulok, chairman of the standing committee and president, of the Courier Service Association of Bangladesh in the chair, and Syed Muhammad Bakhtiar director of FBCCI also spoke at the function.
11th Huawei ‘Seeds For The Future Bangladesh’ opens For Registration
Huawei ‘Seeds For The Future 2024 Bangladesh’ is now open for registration with the aim to develop an ICT ecosystem by enhancing ICT knowledge of students in the country.
Bangladeshi undergraduate students in third year or above can enroll for this competition by sharing their resume.
The announcement of ‘Seeds for the Future 2024 Bangladesh’ has come in a launching ceremony on Saturday at Huawei Bangladesh Academy.
Architect Yeafesh Osman, Science and Technology Minister, was present at the inauguration event as the chief guest with Chinese Ambassador to Bangladesh Yao Wen in the presence.
Lokman Hossain Miah, Executive Chairman, Bangladesh Investment Development Authority (BIDA) and Engr. Sheikh Reaz Ahmed, Commissioner, Bangladesh Telecommunication Regulatory Commission among others turned up at the event.
The program was started with a welcome speech by Pan Junfeng, President of Huawei South Asia Region & CEO of Huawei Bangladesh.
This year, the Bangladesh round champion will win Huawei Matebook, first runner-up will win Huawei Pad and second runner-up will win Huawei Smart Watch. Beside these, the top two project teams of APAC round will get a chance to visit China.
At the inauguration event, Minister Yeafesh Osman, said, "China has been helping Bangladesh to move forward in the technology sector.”
Appreciating Huawei’s effort for organising this program, he urged the participants to use the facilities provided by this program.
Ambassador Wen said, "Seeds For The Future is a flagship program of Huawei. This aims to better fulfil social responsibility and nurture young talents in Bangladesh in ICT sector. This program meets the needs Bangladesh in broad prospects in the future.”
He also said that “Young people are the creators of Bangladesh’s future. As well as the future of Bangladesh and China friendly relations. I sincerely hope, the students of this program could full use of this knowledge platform provided by Huawei; engage in many and exchanges, improve to competence to serve the country.”
Engr. Sheikh Reaz Ahmed said “The global ICT sector is valued at near about six billion USD and Bangladesh contributes a portion to it. All this sector is dependable on Huawei. We appreciate that Huawei is giving our ICT talents an opportunity to meet and compete with the global talents in this world of globalization. I wish Huawei success with the program.”
Pan Junfeng said, “We are delighted to launch yet another edition of ‘Seeds for the Future’, an exemplary youth empowerment program by Huawei that underscores our firm commitment to serving Bangladeshi communities. Through this program, we have succeeded providing the Bangladeshi students global-standard grooming facilities. I am confident that this year we shall see more talents joining the competition and leading Bangladesh’s technological progression as competent ICT experts in the long run.”
Md. Nurul Hafiz, Secretary of Bangladesh Telecommunication Regulatory Commission remarked “Companies like Huawei are making investments themselves, in parallel with institutional initiatives. Seeds for the Future, as Huawei's flagship CSR program, not only exemplifies corporate responsibility but also showcases a commitment to guiding young talent globally. The program, designed to shape the next generation of leaders in the digital age, goes beyond technical skills. It promotes a sense of global citizenship, encourages cultural exchange, and fosters an entrepreneurial spirit.”
Bangladeshi students with a minimum CGPA of 3.30 can enroll in this competition. Interested students have to submit their CV to [email protected] by March 20, 2024.
Since its inception in Bangladesh in 2014, the 'Seeds for the Future' has provided valuable opportunities for the youth of this country, offering exposure to state-of-the-art technologies and insights from industry experts. Globally, over 15,000 students have already been benefited from the program.
For more details, interested participants can visit the Huawei official website https://www.huawei.com/minisite/seeds-for-the-future/index.html
FBCCI demands punishment for perpetrators of Bailey Road fire incident
The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) is working with the government to enhance fire incident protection measures in business establishments in the country.
The FBCCI’s senior vice-president Amin Helaly said this to reporters while visiting the building damaged by the terrible fire incident at Bailey Road in the capital on Saturday.
The FBCCI leaders said to work more strongly with the government to ensure fire safety in commercial buildings of the country.
Amin Helaly led the FBCCI team in visiting the spot and demanded exemplary punishment for those who were responsible for the death of people in the fire incident.
Whether those involved in this accident are businessmen or government institutions, involved in building compliance assurance and supervision; has to be punished, he urged.
Referring to the fire as a man-made crisis, the FBCCI leader said that proper preparations should be made from now to avoid such tragic accidents in the future.