TF National Desk
To achieve Bangladesh RMG export target by 2021, skilled workers are required. The percentage of skilled workforces in Bangladesh is 26 at the moment. The country is targeting to increase the percentage of skilled worker 65 % by 2020. They are to be imparted fashion and design skills to suit the choice and taste of foreign buyers. The country hopes to eventually export quality technicians and skilled manpower in different fields to other countries instead of importing them.
Bangladesh began giving cash incentives on garment exports to emerging markets to offset the fallout from the financial meltdown the world faced in 2007. These incentives on export to non-traditional markets drove growth over the years. Subsequently, exports to India, China, Russia, Japan, South Africa, Turkey, Brazil, Chile, Mexico, South Korea, Malaysia, Australia and New Zealand started to rise.
Cash incentive for apparel exporters was five per cent in 2009-10, four per cent in 2010-11 and two per cent in 2011-12. They still receive a two per cent incentive for exports to new destinations. One of the factors driving Bangladesh’s textile and garment industry over recent years is the growing foreign direct investment in the industry. The main advantage of Bangladesh RMG industry are cheap labor, preferential location in the heart of Asia-Pacific and government support.