Vol. 5 Num 1087 Fri. June 22, 2007  

Singapore businesses keen to invest in composite textile

A business delegation from Singapore yesterday expressed interest to invest in Bangladesh's composite textile sector.

"Based on the collected information during our visit to Bangladesh, we will assess the size and exact time of the investment," said Benny Pua, president of Singapore-based Textile and Fashion Federation (TaFf) and the leader of the 16-member delegation.

Another TaFf delegation will come to Bangladesh soon with formal investment proposals, he said, adding, "we want to invest in Bangladesh's textile value chain."

He was speaking at a press conference in Dhaka to brief about the outcome of their four-day visit that concluded yesterday.

The delegation of TaFf came to Dhaka at the invitation of Texas Group of Bangladesh to explore investment potential here.

"During our meeting with the authorities of Board of Investment and the officials of Bangladesh Export Processing Zones Authority (Bepza) we were apprised of various government facilities with regard to making investment here, and based on these we will propose short and medium term investment soon," Pua said.

The major export item of Bangladesh is textile and the government provides various types of facilities for this sector. So the country has the basic infrastructure to help invest in this sector, he added.

Pua, who has textile business in Sri Lanka and Cambodia, said the investment facilities in Bangladesh are much better compared to those countries'.

Meanwhile, the delegation also met the leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The BGMEA urged the delegation to avail of the government facilities for foreign investors and invest in the country.

Benny Pua, president of Singapore-based Textile and Fashion Federation who led a 16-member business delegation to Bangladesh, speaks at a press conference in Dhaka yesterday. PHOTO: STAR