The Industrial and Investment Sectors of Bangladesh

The biggest industrial and investment sector of Bangladesh is the ready made garment industry. This sector has opened up about 1.8 million new jobs for the people of Bangladesh. And the best part is, most of these 1.8 million are women. Bangladesh is reaching new heights in ship-wrecking business. It has grown so much over the last decade that the ship-wrecking sector is providing a large chunk of the steel demand around the country. The other well established business in the country are sugar, tea, leather and leather made products, newsprint papers, pharmaceuticals and fertilizers. Nevertheless, some old and very profitable industries such as jute, shrimp and ceramics are losing profit because the country is more focused on exporting ready made garments now.

The industrial sectors of Bangladesh have to go through a lot of obstacles because of often called political strikes, labor strikes, unstable infrastructure and not so reliable financial system. Overcoming all of this hindrance, the ready made garment industry has achieved remarkable success in the international market. Every year, Bangladesh exports a large quantity of ready made garments and knitwear to the USA and the European Union market. Right now Bangladesh is the second most ready made garment and knitwear exporting country in the world, right behind China. But a lot of work needs to be done to maintain this respectable position in this extremely competitive market.

The Bangladesh government is very open to foreign investments. A “Board of Investment” was established to attract more foreign investment in our industrial sectors. Cellular technology, textile and pharmaceutical sectors have been able to attract some foreign investors. Export Processing Zone (EPZ) has been established around the country and some are yet to come. Right now Bangladesh has 7 EPZ in Dhaka, Chittagong, Comilla, Mongla, Iswardi, Uttara and Karnafuly.

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