‘The journey of 100% export-oriented readymade garments industry in Bangladesh started with the help of South Korea. Desh Garments was established as a joint venture with the Korean company Daiyu. 130 officers and workers were given six months of training in South Korea. Many of them now own garments factories. Many Korean entrepreneurs have also invested in this sector in Bangladesh. South Korea is keen to spread Bangladesh-Korea’s success in the readymade garments sector to other sectors as well.
South Korea’s ambassador to Dhaka Lee Jang-keun expressed his interest during a courtesy call with FBCCI president, Md. Jashim Uddin in the FBCCI office in Motijheel on Sunday (20 February).
The Ambassador said that Seoul wants to take the relations between the two countries to a new level on the occasion of the 50th anniversary of Bangladesh-South Korea diplomatic relations in 2022. Therefore, efforts are being made to increase Korean investment in sectors other than ready-made garments. Currently, South Korea is the 5th largest investor in Bangladesh.
Calling on Korea to invest in Bangladesh’s infrastructure and man-made fibre sector, Jashim Uddin said that Bangladesh is going through a golden age of foreign investment due to its huge domestic market, growing exports, electricity, government policy support for easy availability of infrastructure, and large working population. The countries that take advantage of this opportunity will benefit.
He said that discussions would be held with the Investment Development Authority (BIDA) on organising roadshows or investment conferences in Korea to highlight investment opportunities in Bangladesh.
It was also decided that a trade dialogue will be held this year on the joint initiative of the Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) and FBCCI.
