Bangladesh’s Foreign Direct Investment (FDI) inflows in the textile and weaving sector increased 11 per cent to $271 million in 2020. Data from the Bangladesh Bank shows, Bangladesh received $271 million as foreign direct investment, in 2020. As per a Textile Today report, South Korea was the largest investor with an investment of $50.32 million followed by Kong $35.11 million, China $25.19, the United Kingdom $14 million, the Netherlands $6.18 million, USA $11 million, the British Virgin Islands $26.46 million, Sri Lanka $22.36 million and India $11 million.

Industry leaders welcomed the foreign investment in the segment. The investments will enable the sector to diversify products and knowledge sharing, said Faruque Hassan, President, BGMEA

Hassan also suggested attracting more foreign investment in fabrics manufacturing in woven mostly, while there are opportunities for value-added products

To become self-sufficient in raw materials for high end products, the government should offer an opportunity to attract foreign investors with large volume investment, said Khondaker Golam Moazzem, Research Director, Centre for Policy Dialogue (CPD).

The FDI can help the apparel sector attract capital and skilled workforce, added Moazzem. He opined that FDI should come in backward linkage and textile sector also as still we are importing huge amounts of fabrics.