Green Factories Needed In Bangladesh: BKMEA

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Green Factories Needed In Bangladesh: BKMEA

Green industrialisation can play a vital role in Bangladesh garment exporters' competitiveness as the buyers are progressively being drawn to green factories for their commitment towards the environment, a recent study found.

"Retailers prefer to source from green factories, so proper branding is needed to attract buyers," said the study on developing capacity building framework for green industry in Bangladesh's garment sector. The country's foreign affairs and commerce ministries may help on that front by arranging awareness programmes in target markets. Green factory owners may get a higher price than others, said the study by the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

The study recommended that Bangladesh Bank can expand its Green Transformation Fund to make it more affordable and easier to avail. The government needs to formulate policies for green industry development. Also, industry should be allowed duty-free imports of green technologies and equipment, incentives for energy efficient machines. FDI should be encouraged in this sector, the study recommended. The 10 month-long study was funded by Agence Française de Développement. Faruque Hossain, assistant joint secretary to the BKMEA, presented the findings at the event where Shubhashish Bose, commerce secretary, was present.