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Bangladesh Received $2.7 Billion Investment Proposal

Update from International Investment Summit

The Bida organized a two-day summit on Radisson Blu Dhaka Water Garden with the aim of highlighting investment opportunities in Bangladesh

Bangladesh received a $2.7 billion investment proposal in the recently concluded two-day summit on 29 Nov 2021. This summit was joined by more than 6,000 participants from 54 countries. 

To the World Stage

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) partnered with CNN International Commercial (CNNIC) to promote Bangladesh’s garments to the world stage. In this endeavour, they signed an MOU on 28 Nov 2021 to promote “Made in Bangladesh” tagged garments in the US market. 

This hopes to highlight garments industries recent innovations, workplace safety initiatives, and environmental sustainability. 

Innovation: Variant of Cotton

Bangladesh ministry of agriculture’s Cotton Development Board in collaboration with the International Atomic Energy Agency (IAEA) and the Food and Agriculture Organisation of the United Nations (FAO) has developed a variant of cotton that is cost-effective, early harvestable and utilize less water and fertiliser. 

Wealth in the Waste

According to a research report titled “Scaling Circularity” by Global Fashion Agenda (GFA), Bangladesh produced 1,000 tonnes of textile waste till Nov 2021. The potential market price would be around 1 billion dollars and this highlights the opportunity in textile recycling. $5-7 billion investment in this sector has can transform the fashion industry by 80% circular by 2030. 

Photo Courtesy: Canva