Dhaka, Bangladesh
Coronavirus may create new business prospects for RMG

Coronavirus may create new business prospects for RMG

Buying houses eye such spinoffs

News Report: Coronavirus may yield huge opportunity for Bangladesh through making PPE (personal protective equipment) and other health-related equipment like hospital bedsheets and isolation fabrics now in soaring demand worldwide. Bangladesh Garment Buying House Association (BGBA) leaders opined this in a press conference was held at the Economic Reporters Forum office in the city on Saturday. BGBA president KI Hossain presided. Among others, Secretary -General Aminul Islam, Sr. Vice President Harun Ur Rashid and Treasurer Saiful Islam spoke at the function. BGBA president KI Hossain said the ongoing pandemic might be an opportunity for some apparel businesses as global demand for items like masks, personal protective equipment, hospital bedsheets and isolation fabrics is soaring worldwide. "The domestic demand for these items has also grown. So, we should exploit this opportunity," he said. "The market size of these items is worth billions of dollars. We can easily grab this market as we already have the set up the garment factories," Hossain added. The speakers at the function said the backward- linkage industries like spinners, weavers and dyeing sectors of the country would also be benefited. In response to a query, they said they are not in favour of terminating the workers and employees in the buying houses. Some four lakh employees are working in 826 apparel buying houses in the country, president Hossain added. He also criticised some foreign buyers like Debenhams, which laid off its Bangladesh office that had 69 employees. Hossain said some foreign buying houses held back or cancelled work orders worth $800million so far. Hossain demanded easy loans for the buying houses from the government-announced Tk20,000crore bailout package, so that they can survive during this coronavirus pandemic.

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