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Bangladesh

Draft Textile Policy-2014 seeks to double production    

The government has drafted the 'Textile Policy 2014' aiming to double the local textile production by the fiscal year 2019-20, sources said. The annual combined demand for fabric from the domestic market and the export-oriented garment sector is around 11,400 million metres, of which 62 per cent, about 7,000 million metres, is met locally. Now, the government has targeted to raise the domestic production to 14,036 metres by 2019-20, double the existing production, they added. textile chemicalThe move to prepare a new policy was ini...

Remittance falls by 25pc in October  

The inward flow of remittances fell by nearly 25 per cent in October over the previous month’s mark, in a bit ebb tide after a steady surge. Official figures show the downturn came after a steady growth in the overall remittance inflow that took the total over US$5.0 billion in the first four months of this fiscal. “The inflow of remittance is still at a satisfactory level despite downturn in the month of October,” a senior official of the Bangladesh Bank (BB) told the FE. The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC count... </div><!-- .entry-content --> </article><!-- #post-## --> <div class=

Deal signed for Padma bridge consultancy

The government yesterday entered a Tk 383.15 crore deal with a joint venture of six companies for the supervision consultancy job of the Padma bridge project.

Under the four-year deal, the joint venture, led by Korean Expressway Corporation, will supervise the construction of the main bridge and river training works. Shafiqul Islam, project director of the Padma bridge project, and Cho Nam-Min, team leader of the joint venture, signed the agreement at the Setu Bhaban. Road Transport and Bridges Minister Obaidul Quader, Korean Ambassador in Dhaka Lee Yun-young and the chairman of the technical evaluation committee were present, reports the Daily Star.

Advantage in RMG cannot be taken for granted: WB  

The advantage enjoyed by Bangladesh in readymade garment (RMG) sector cannot be taken for granted, and the country’s competitiveness in the apparel export market may erode in the long run if working conditions do not improve, says the World Bank (WB) in its Bangladesh Development Update October 2014. In the immediate future, stronger attention is needed to swiftly complete the transition in the Bangladesh garment industry, feel authors of the report. According to them, “much more needs to be done for effective implementation of wage increases and the new labor legislations, recruiting more factory inspectors and complete building inspections followed by swift remediation measures such as relocation of closed factories.”

Human traffickers in Bay of Bengal cast sights on Bangladesh

Abul Hasan, a 30-year-old fisherman, was drinking tea at a restaurant here when he was approached by two men who said they could help him get a good job at a factory in Malaysia. He was told that he could pay for his passage after he started working, he said, so he followed the men to a nearby village to “see some brochures.” traffic in Bay 111The next thing he remembers was waking up, nauseated, alongside more than a dozen other men aboard a fishing boat. Six guards armed with knives stood watch. “I knew I was in troub...

Doing Business Report: BD performs worst in 3 areas influencing FDI  

Bangladesh’s global ranking has slipped in ease of doing business, standing at 173rd position among 189 nations as the country’s performance deteriorated on indicators, including starting business, paying taxes and enforcing contract where it was near the rock bottom. According to the Doing Business Report 2014 – the flagship report of the World Bank and International Finance Corporation, out of 10 indicators, Bangladesh slipped on six, remained unchanged in three and one moved up. doing businessAmong the south Asian countries,...
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