Apparel export to US sees 6.31% growth in July

Ready-made garments (RMG) export to the US, the largest export destination for Bangladesh has increased by 6.31% in July of 2023-24 fiscal year to $729.03 million from $685.77 million in July of 2022-23 fiscal, As per the statistics of Export Promotion Bureau (EPB). During the first month of fiscal year 2023-24, clothing export to the EU market also grew by 17.40% to $1.95 billion from $1.66 billion in the same period of last fiscal year. During the mentioned period, export to some major markets in EU region such as Spain, France, Italy, Netherland and Poland grew by 36.35%, 22.71%, 36.75%, 23.03% and 18.07% respectively. During July of FY 2023, export to the UK and Canada reached $475.54 million and $128.89 million, with 29.78% and 14.78% year-on-year growth respectively. At the same time, apparel export to the non-traditional markets also increased by 23.75% and reached $674.82 million. Among the major non-traditional markets, export to Japan, Australia, India and South Korea increased by 49.99%, 55.73%, 2.60% and 19.59% respectively.

Source: https://www.tbsnews.net/economy/rmg/apparel-export-us-sees-631-growth-july-679870

Govt to build tech park in Dhaka

The ICT Division is building a technology park in the capital’s Karwan Bazar for Tk 160 crore as it looks to install business incubation centres at universities and collaborate with industry and academia with the infrastructure. Spanning over an area of 0.47 acres, the park is the result of a collaborative financial partnership between the Bangladesh government and the World Bank under the Digital Entrepreneurship and Innovation Ecosystem Development Project of the ICT Division. The modern building with green technology will be a nine-story infrastructure, including four basements, covering around 170,000 square feet. The Vision-2041 Smart Tower Software Technology Park will also establish four software technology parks that provide startup facilities, create four labs for common usage, manage innovation programmes within software parks, and ensure skilled personnel for future innovation-related activities.

Source: https://www.thedailystar.net/business/economy/news/govt-build-tech-park-dhaka-3390591

 Fakir Knitwears to invest $46m in Bangabandhu Sheikh Nagar

One of the leading garment exporters in the country Fakir Knitwears Limited will invest $45.82 million to build a knit composite factory in Bangabandhu Sheikh Mujib Shilpa Nagar. To this end, the company signed an agreement with the Bangladesh Economic Zone Authority (Beza) to acquire a 15-acre land in the country’s largest industrial enclave. The company has been contributing to the garment industry, logistics, and agro-farm sectors since 1936. Another 15 industrial companies have started setting up factories which will start production in phases from September 2023. About 8 lakh employment opportunities will be created in this industrial city.

Source: https://www.tbsnews.net/economy/fakir-knitwears-invest-46m-bangabandhu-sheikh-nagar-679866