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Due to its strong consumer base, Bangladesh is considered a major investment and trading destination for many US companies, some of which are interested to invest in a few key sectors such as agro-processing and pharmaceuticals, according to a senior official of the US embassy in Dhaka.
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Spinners’ plans to pour in hundreds of crores of taka to expand domestic capacity and slash reliance on foreign markets have been pushed back by the coronavirus pandemic, forcing local exporters to continue footing more than $5 billion in annual import bills for yarn and fabrics.
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Nine small and medium-sized garment factories are in big trouble as a German retailer is not paying them on the pretext of being hit by the coronavirus pandemic although the buyer received the goods before the crisis began.
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The local dyeing industry has begun recovering slowly from losses as garment work orders started to pick up thanks to the reopening of retail stores in the West.
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The government has decided to import one lakh tonnes of onion as soon as possible to rein in skyrocketing prices in the local markets, Commerce Minister Tipu Munshi told The Daily Star yesterday.
