“Chinese power” in Bangladesh’s garment industry
Zhang Wensheng came to Bangladesh alone 24 years ago. Now he owns a 4-story garment factory building with about 2,000 employees. Looking back on the road to entrepreneurship, he said with emotion: “The road to entrepreneurship is difficult. The current success depends on the support of the motherland. I also want to thank the Bangladesh government for its support to foreign-invested enterprises.”
The garment industry is one of the most important economic pillars of Bangladesh. Clothing products account for more than 80% of total export value and more than 10% of GDP. The garment industry provides employment to more than 4 million people and makes a significant contribution to the country’s development. In addition to creating jobs and earning foreign exchange, the garment industry also attracts foreign direct investment and promotes the development of infrastructure projects.
In an exclusive interview with a reporter from Xinhua News Agency, Bangladesh Information Minister Innu said: “China is helping to boost our economy. As we all know, garment manufacturing is the largest and most important industry in Bangladesh, and China is an important participant in this field. Those.”
There are many Chinese entrepreneurs like Zhang Wensheng who have invested in the garment industry in Bangladesh. The establishment of factories in Bangladesh by Chinese companies can be traced back to the 1990s. Bangladesh is the world’s second largest clothing exporter and is now becoming a hot spot for the overseas development of China’s garment-related industries. China’s power has injected vitality and energy into Bangladesh’s economy, which is the economic lifeline of Bangladesh. Chinese people are present in everything from processing plants, raw material supply to market orders.
Zhuang Lifeng, a native of Quanzhou, Fujian, started building a garment factory in Bangladesh more than 20 years ago. So far, the Lidchen Group he founded has owned many enterprises in Bangladesh including weaving, dyeing and finishing, printing, clothing, shoemaking, etc., creating a large number of employment opportunities. The number of local employees employed in his enterprises has reached 1.3 More than ten thousand people.
Due to the rise in labor costs in China, companies like this that “joint forces” between China and Bangladesh are very common in the Bangladeshi garment industry. A staff member of the Mondor Group in Bangladesh said that most of the raw materials such as fabrics, yarns, labels, buttons, and zippers used by the group’s garment-making enterprises come from China. The financial manager of the Utah Group, which has more than 10,000 workers, said that the group purchases about 300 million to 400 million taka (approximately 3.855 million to 5.14 million U.S. dollars) of raw materials from China every month.
Chinese enterprises have formed a group effect in Dhaka. The Uttara area has now become a “Chinatown”, with many offices from Chinese companies gathered here, most of which are engaged in clothing-related industries. Chen Zhong’s office is one of them, which is filled with various clothing accessories including buttons, zippers, and labels for display to local customers. He said that there are many accessories companies from China, mainly from Fujian, Guangdong, Jiangsu and other places. 90% of Bangladesh’s garment accessories come from China.
In addition, Chinese companies have now become an important source of orders for Bangladesh. Zhang Shuhong, representative of China’s Suzhou Sumeda Textile International Trading Company in Bangladesh, said that the company came to Bangladesh for inspection in September last year and started placing orders in Bangladesh in March this year. Currently, the order volume has reached 1.5 million pieces, with a total amount of more than 4.5 million US dollars. . According to him, after companies receive domestic orders, they can distribute large quantities and low difficulty orders to Bangladesh, which can reduce costs by at least 15%. The company also plans to set up a factory in Bangladesh in the future for localized production.
The person in charge of Shanghai Oriental International Group said that clothing production in Bangladesh has had a stimulating effect on the domestic clothing industry. On the one hand, Bangladesh’s industrial chain is incomplete, and many high-quality raw materials and textile machinery basically come from China; on the other hand, domestic clothing sales companies are also facing pressure from rising costs, and the transfer of orders to Bangladesh for production has reduced costs. In addition, setting up factories in Bangladesh will help adjust the domestic product structure. Simple processing will be transferred here, and the country can focus more on product design and research and development.
Bangladesh Information Minister Innu said: “If we look back, from the first day when the two countries established diplomatic relations, China has actively participated in Bangladesh’s economic construction and made huge contributions. This is why in the past 40 years, , the reason why China has become one of Bangladesh’s largest development partners.”
Innu said: “At this stage, the Bangladeshi economy needs more Chinese investment. Our prime minister has opened special economic zones for Chinese investors.”
Zhang Wensheng, who has devoted most of his youth to Bangladesh, said that he is optimistic about the future development of Bangladesh’s garment market. Chinese companies can use their own advantages to invest and set up factories in Bangladesh and share the fruits of development with Bangladesh for mutual benefit and win-win results. “Chinese power” in Bangladesh’s garment industry
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