Kihak Sung, founder of Korean EPZ, believes that Bangladesh has a very bright potential to achieve top position in the ready-made garment sector in the global market. He said that Bangladesh can quickly achieve this goal if timely strategies and effective reforms are implemented.
He made these comments while presenting the keynote speech at the ‘Textile and Garment’ session of the Bangladesh Investment Summit held at the Intercontinental Hotel in the capital on Thursday (April 10, 2025). Participating in the session titled ‘Bangladesh is moving forward from the perspective of investors’, he highlighted the potential and challenges of Bangladesh.
He said that currently Bangladesh is the second largest single garment exporter in the world. However, to move to the first place, technological excellence, skilled manpower and the ability to produce its own raw materials will have to be developed.
Sung added, “Policy support is essential to accelerate the industry and survive in international competition. In addition, a large number of bonded warehouses should be established so that raw materials are available quickly and the production-export process is hassle-free.”
Referring to the recent global trade situation, he said, “The three-month moratorium on the Trump-era tariff policy has brought some relief. The quick and conscious action of the Bangladesh government in this regard is commendable.”
Discussing future export strategies, he said that now is the time to focus on manufacturing high-value garments. He warned, “Reliance on low-cost products can leave us behind in the competition.”
Anwar Hossain, Administrator of BGMEA and Vice-Chairman of the Export Promotion Bureau, also spoke at the event and shed light on the overall progress and investment potential of the sector.
