BGMEA, OCAB join hands to attract Chinese investment in RMG

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has launched a new initiative with the Overseas Chinese Association in Bangladesh (OCAB) to attract Chinese investment into the country's ready-made garment (RMG) sector, with a focus on strengthening backward linkage industries, promoting joint ventures, and reviving struggling factories.

The initiative was discussed at a bilateral meeting held at the BGMEA Complex in Dhaka’s Uttara today, where leaders of the two organisations explored ways to facilitate investment, technology transfer and business partnerships between Chinese investors and Bangladeshi manufacturers.

Tap here to add The Daily Star as a trusted source

The BGMEA delegation was led by its president, Mahmud Hasan Khan, while the OCAB delegation included Vice President Lisa Lou, Vice President and Secretary General Vivian Huang, Executive Director Steven Zhang and Secretary Tina Hu.

During the meeting, the Chinese delegation said greater foreign investment would be crucial for developing and modernising Bangladesh's upstream supply chain for the garment industry, according to a statement from the BGMEA.

They said many Chinese companies were interested in setting up factories, transferring technology and expanding operations in Bangladesh, but lacked reliable and comprehensive information needed to make investment decisions.

They sought BGMEA's support in providing relevant information and facilitating coordination with potential local partners.

Responding to the proposal, the BGMEA president said the association would collect information from its member factories through email to identify businesses seeking foreign investment or strategic partnerships.

According to BGMEA, factory owners interested in bringing in Chinese capital and advanced technology—either for operational or closed factories—or those willing to enter joint ventures through full or partial ownership transfers, will be asked to provide details on their factory profile, size, available space, machinery, operational status and preferred form of partnership.

The association said it would assess the information received and share relevant details with OCAB to help match potential Chinese investors with Bangladeshi manufacturers.

BGMEA said the joint initiative aims to establish a one-stop business matchmaking platform that would facilitate investment partnerships, support the reopening of closed or financially distressed factories through fresh capital and technology, and encourage greater foreign investment in Bangladesh's backward linkage industries and higher value-added garment manufacturing.