CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
Rights groups urge brand to sign Accord
International Labor Rights Forum, United Students Against Sweatshops and Service Employees International Union affiliate Workers United organised protests calling on brands sourcing apparel from Bangladesh to sign a legally-binding workplace safety programme with global unions Industriall and UNI and eight Bangladeshi unions. Brands such as Abercrombie & Fitch, American Eagle, H&M and Zara, have refused to join 147 other brands in signing the new three-year agreement on worker safety. Demonstrations were held at 20 Abercrombie & Fitch stores in the US, with protesters urging the brand the sign the new Accord.
$4,530 million received in remittance till April 2018
Bangladesh has sent 2,49,528 workers overseas with employments and received USD 4,530.46 million as remittance till April 13 this year that contributed significantly in the socio-economic advancement of the nation. The overall manpower export from Bangladesh is expected to witness a robust growth this year as the officials say as many as 10,08,525 workers have got overseas jobs, sending USD 13,526.84 million last year. According to data in the ministry, the government has installed 70 training centres in different districts of the country to turn the manpower into skilled and semi-skilled forces.
Foreign direct investment declined by 8.42%
Net inflows of foreign direct investment in the country declined by 8.42 per cent to $2.15 billion in 2017 from $2.33 billion a year ago, according to the final calculation of the Bangladesh Bank. Equity investment, which is considered as fresh investment directly from abroad, declined by more than 69 per cent to $538.90 million in the year from $911.38 million in 2016. Reinvested earnings and intra-company loans, however, increased to $1.28 billion and $333.24 million respectively in 2017, which were $1.22 billion and $205.95 million a year ago.
