Exploring business to business scope and opportunities of RMG sector in Bangladesh

Abstract

Now days RMG industry is the largest export zone for the Bangladesh. The readymade garment Sector or apparel industry actively plays an essential role in the economic development of Bangladesh. As our biggest foreign currency earner, this industry achieve for 84.21% and of the total exports in the fiscal year 2019. It made up 10% of the country’s GDP that year, and if the supplementary industries are considered, that share was almost 14-15%. Two thirds of country’s labor force (approximately 4 million) is working in this industry, of which almost 85% are women. It is the strongest formal sector employer in the country and is considered the essential part of the Bangladesh economy. The economic impressive development of this sector, however, does not reflect the real scenario prevailing in many factory of Apparel Industry. Numerous financial and policy incentives or solid labor law from the government have failed to ensure the rights and safety of the workers, who are the essential element of this sector. Still many factories failed to provide well working conditions to the workers not only that some factory skip the salary of workers and treat like slaves. Even in the COVID 19, RMG factories did not shake and able to manage around 80% total export and beat the Vietnam. ARL is one of the strongest supplier of RMG factory machineries whose are being engage with b2b business more than 1000 factories.