Bangladesh Textile Sector Attracts Nil Investment In 2023
The Bangladesh textile industry did not witness any new investments in 2023 due to various internal and external forces, which include a severe shortage of energy and a global economic slowdown.
This was informed by Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon at a press conference held on the eve of DTG 2024 exhibition.
The BTMA President said that the textile sector has been facing a shortage of gas for the past couple of years and manufacturing in the industry has declined by 50 percent.
Khokon claimed that in January 2024 alone, production dropped 40 percent as supply of gas remained suspended in many industrial belts.
‘We are inviting foreign investors to make investments, but the government is failing to provide gas supply. If this situation continues, new investments will not materialise,” he added.
According to Khokon, the government promised to ensure nonstop supply of energy, but the energy supplier had breached its commitment and gas crisis intensified in the textile sector.
He further added that the lack of gas led to production remaining almost suspended in textile mills in various regions of the country.
DTG 2024 is being held by the BTMA in association with Chan Chao International Co Ltd, Taiwan and Yorkers Trade and Marketing Service Co Ltd, Hong Kong and will be held from February 1-4 in Dhaka.
