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Germany's AMANN Group Plans Fresh Investment, Factory Expansion In Bangladesh

Germany-based industrial sewing and embroidery thread manufacturer AMANN Group plans to expand its factory operations and make fresh investments in Bangladesh, the company's Chief Executive Officer Markus Nicolaus said at a meeting with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders in Dhaka, recently.

The announcement came during a bilateral meeting between BGMEA President Mahmud Hasan Khan and an AMANN Group delegation.

Markus Nicolaus said: "We are closely observing which other sectors here may attract new investment. There are major investment opportunities, especially in Bangladesh's high-tech textile sector." AMANN Group operates in Bangladesh through AMANN Bangladesh Ltd.

Mr Mahmud Khan said Bangladesh's apparel sector was recovering after a slowdown in exports earlier this year caused by global economic uncertainty. "Bangladesh's readymade garment industry is now going through a major transformation. We are putting strong emphasis on product diversification. But our current goal is not only to increase export volume, but also to produce higher-value garments," he said.

Markus Nicolaus said: "We are closely observing which other sectors here may attract new investment. There are major investment opportunities, especially in Bangladesh's high-tech textile sector." AMANN Group operates in Bangladesh through AMANN Bangladesh Ltd.

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