A Taiwanese apparel manufacturer is setting up a factory in Bangladesh.

Makalot will invest around $17 million to set up a factory over 10,119 sqmts of space, where around 1,500 employment opportunities will be created. The company that produces sportswear, ready to wear garments, sleepwear, leisure clothing and outdoor garments will set up two more factories in Bangladesh if this current endeavour is successful.

The company has factories in China, Cambodia, Indonesia, Philippines and Vietnam. Bangladesh is the sixth country where it is setting up a factory.

A number of Taiwanese companies are considering relocating their businesses from Vietnam. Their eyes are now on Bangladesh. Several companies in Taiwan are exploring the potential of investment in readymade garments and leather goods sectors and are planning to make big investments. Bangladesh has been able to create a healthy investment-friendly environment.

Currently, online services to investors are ensured by setting up a one stop service centre. Bangladesh is a populated country, so the workforce is available, which is a challenge for many other countries. Also readymade garment accessories are more affordable in Bangladesh compared to other countries. Other helpful factors are increased port facilities, developed communication systems and the availability of a young workforce.