Former Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Kutubuddin Ahmed has emphasised that foreign investors are unlikely to invest unless local entrepreneurs take the initiative first. Speaking at a program organised by BGMEA ahead of its upcoming elections, he urged the Government to focus on promoting local investment opportunities.
Ahmed noted that while the Government recently held a summit for foreign investors, similar efforts should be directed toward supporting local entrepreneurs. “The current administration should organise a summit aimed at local investors to encourage their participation,” he said.
Expressing concern over the current business climate, Ahmed criticised the political landscape for neglecting the challenges faced by the industry. He highlighted the high interest rates, currently around 15 per cent, as a significant barrier to business growth, stating, “No business can survive paying such high interest rates, not just in Bangladesh but anywhere in the world.”
Abul Kalam, Managing Director of Chaity Group, echoed concerns about the uncertain political environment and its impact on business confidence. “If we fail to address these challenges properly, our progress may come to a halt,” he warned. “The ongoing political situation is creating hesitation among businesses.”
The event was held at BGMEA headquarters in Uttara to introduce 35 candidates under the Sammilita Parishad panel. The panel unveiled a comprehensive development plan focusing on strengthening the industry, including establishing an SME support cell, ensuring policy and energy security, and introducing alternative incentive packages.
Other key proposals include launching a green funding desk, expanding market access beyond traditional destinations, supporting backward linkages, simplifying VAT and regulations, and creating infrastructure such as a digital transformation center to facilitate exports. The panel also emphasised the need for policy intelligence and a one-stop support cell to aid industry growth.
Faruque Hassan, a former BGMEA president and a panel candidate, highlighted past achievements and outlined future plans, seeking support for the panel’s nominees. Mohammed Hatem, President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), along with other RMG sector leaders, also participated in the program.
Industry insiders agree that addressing these issues and encouraging local leadership are crucial steps toward attracting more foreign investment and ensuring sustainable growth in Bangladesh’s garment sector.
Bharat Tex Special Report 2026 
