The Bangladesh government has decided to privatize state-owned textile mills to attract foreign investment in the backward linkage industries so that the country can face the challenges in the post-MFA (multi-fibre arrangement) era, according to the Textile and Jute Minister.
The country needs at least 150 composite textile mills in next five to seven years to face the challenges in the quota-free regime. Having been aware of this necessity and the interests of foreign investors, the government has taken steps towards privatization of the state-run textile units.
The country's 76% of export earnings come from textile and readymade garments; the sector is hitherto to see remarkable foreign investment.
The Textile Minister has also urged the government to take steps to strengthen International Jute Study Group for the development of jute and jute-products to help boost export.
The country needs at least 150 composite textile mills in next five to seven years to face the challenges in the quota-free regime. Having been aware of this necessity and the interests of foreign investors, the government has taken steps towards privatization of the state-run textile units.
The country's 76% of export earnings come from textile and readymade garments; the sector is hitherto to see remarkable foreign investment.
The Textile Minister has also urged the government to take steps to strengthen International Jute Study Group for the development of jute and jute-products to help boost export.
