DSE, BGMEA sign deal to get green cos listed

Dhaka Stock Exchange (DSE) signed a memorandum of understanding (MoU) with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday targeting to get green garment manufacturing companies listed.

M Shaifur Rahman Mazumdar, acting managing director of the DSE, and Faruque Hassan, president of the BGMEA, inked the deal on the former's office premises.

Under the agreement, the DSE and BGEMA will collaborate on promoting the companies through the capital market and identifying financing prospects and problems.

They will also organise trainings, seminars and awareness programmes among entrepreneurs and officials on corporate governance, capital restructuring and fundraising.

The garments sector is playing a major role in developing the Bangladesh economy, Prof Hafiz Md Hasan Babu, chairman of the DSE, said at the signing ceremony.

If the green garment manufacturing companies get listed, their brand value and image will get a boost, he said.

Foreign buyers also perceive listed companies as well-governed and regulated and so the listing will help garner more of their attention, he said.

Of the 15 top green factories in the world, 13 are in Bangladesh. In total, there are 202 green factories in the country, said Faruque Hassan.

The local garments factories are now mainly dealing with five types of products but they have the capability to diversify their portfolio. If they need capital, the stock market can be an option, he added.

Md Shakil Rizvi and Sharif Anwar Hossian, directors of the DSE, were also present at the event.