German company invest in Bangladeshi garments and textile sector

Steffen Mohler, marketing and sales director of Multiline Ltd. he said that his company will invest $200m in our textile and garments sector which is the largest textile factory in the worlds. And he also said that we have already bought 80 bighas of land on gazipur. The factory will start the production in early 2010. He also said that the factory includes many facilities system such as forward and backward linkages, spinning, weaving, dying and washing and sewing and a three star hotel.

Officially they have said that the previous investment not more than $25 million. He shows the benefit if they established the factory, Bangladesh will be more benefit able. Most of the manufacturer will be attracted to order in Bangladesh. He said, in the 1990s to 2000s Indonesia and Vietnam were the biggest low cost manufacturing hub in textile sector. But Bangladesh is now a big exporter especially in textile sector. Mr. Mohler said there are many German or European departmental stores or trading firms set up their buying houses in Bangladesh. He also said that on a narrow Gulshan Avenue, there are at least 400 buying houses.

Now Bangladesh has exported apparel and home textile worth $11 billion and it will double in 2011. In this regard, Mr. Ifty Islam, a managing partner of Asian Tiger Capital, he said Bangladesh is becoming one of the next big manufacturing hubs in Asia. He is also expressed that if we solve the energy problem, we will even grow faster than India. And Mr. Mohler said that as a big retailer from Japan, which buy some 95 percent of its apparel from china, now they have focused on Bangladesh.