Bangla parliament passes bill to boost garment sector

The Bangladesh parliament recently passed the Textile Bill that was introduced in June 2018 by state minister for jute and textiles Mirza Azam. The government wants to achieve higher numbers by streamlining multiple processes for market leaders in the textile industry as the country’s apparel sector grew from $28.2 billion in 2016 to $29.33 billion in 2017.

Bangladesh total exports earned $36.67 billion for fiscal 2017-18. The textile industry contributes approximately three-fourths of the country’s total exports with the readymade garment (RMG) sector as the major contributor, according to a report by a Bangladesh news wire.

The bill has a lot of amendments to earlier laws, including a one-stop service provision for companies that want to set up industries. This may raise investment in the RMG sector.