Daily Newsletter

12 August 2024

Daily Newsletter

12 August 2024

BGMEA seeks army assistance to combat factory security concerns

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) brought together top army officials and industry leaders to seek military assistance in combating criminal gangs disrupting the 'jhut' (garment waste) trade, threatening factory operations and worker safety in key industrial areas.

Isatou Ndure August 12 2024

Key stakeholders convened on 11 August for a high-level meeting at the BGMEA Complex in Uttara, Dhaka to focus on strengthening security for industrial factories, with particular emphasis on the garment sector, which forms a cornerstone of Bangladesh's economy.

According to BGMEA's acting president Khandoker Rafiqul Islam, the recent collaboration with the army has already yielded positive results, with nearly 100% of factories resuming operations in key industrial areas such as Gazipur, Savar-Ashulia, Dhamrai, Narayanganj and Chittagong.

Islam was recently appointed interim leader at the BGMEA, in the absence of hte the current president who is reportedly in Singapore where his child is receiving medical treatment.

Islam represented the industry alongside leaders from the Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Textile Mills Association, and other prominent business organisations.

Industry leaders sought the army's intervention in tackling criminal activities disrupting the "jhut" (garment waste) trade in industrial zones. These activities, reportedly carried out by organised gangs, have been causing unrest and harassment, and currently “hold the garment industry hostage.”

In response, major general Muhammad Moin Khan NDC, PSC, general officer commanding the 9th Infantry Division and area commander of Savar, reassured the business leaders of the army's commitment to supporting the industry's recovery and growth.

He revealed that a task force has already been deployed in the Savar and Ashulia areas, with a "quick reaction force" in place to respond swiftly to any incidents. The general also asked the BGMEA to provide specific information on criminals involved in disrupting the jhut business to facilitate targeted action.

Business leaders also raised logical challenges currently distrupting the industry and requested enhanced security for goods-carrying vehicles on roads and highways.

They also highlighted inefficiencies at Chittagong Port and Dhaka Airport, where delays in cargo handling and clearance are impacting the sector's competitiveness, backed by industry representatives who urged for army assistance in streamlining these processes.

To improve communication and problem-solving, major general Khan proposed the creation of WhatsApp groups “to facilitate rapid problem resolution in industrial areas.” He also committed to addressing the issues at Chittagong Port and Dhaka Airport to enhance cargo handling efficiency.

Last week, (9 August), Just Style reported an alleged “hostile takeover attempt” of BGMEA's board by “a group of members and unidentified individuals” on 7 August that led to the departure of former BGMEA vice president Faisal Samad.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

Apparel Rental Market Overview

Per GlobalData, the apparel rental market was valued at $6.2 billion in 2023 and is expected to achieve a CAGR of >11% during 2023-2027. Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new. An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.

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