With the rise in demand of yarn and fabrics produced domestically, the country’s primary textile sector invested Tk57.90 billion in 2021 to ensure supply. At a time when the country’s overall investment saw a stagnant situation, a handsome investment in the textile sector is a good sign for the apparel sector to get supply from…
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After 13 years, Uzbek cotton farmers are celebrating the lifting of the international boycott of their products, with the confirmation of no longer using organized forced labor to harvest the economically vital crop. It’s great news that the world’s biggest cotton producers, including major American clothing retailers such as Amazon, Gap, J.Crew, Target, and Walmart,…
Three Chinese companies have made proposals to invest in apparel, float glass and green energy sectors by setting up factories in Bangladesh, officials said. The firms intending to establish factories here are Xinyi Glass Holdings Limited, Guopu Energy Technology Company Limited and Hangzhou IV Supply Chain Co Limited. Guopu Energy has proposed to invest a…
Recover, the Spanish recycled cotton producer, opened its new facility in Bangladesh to expand its manufacturing capabilities and accelerate its effort to transform the fashion industry. Actually Bangladesh produces about 4 lakh tonnes of garment cutting waste annually, which is locally known as “jhut”, of which, only 5% can be recycled at four mills. Notably,…
UzAssets Investment Company under the State Assets Management Agency has reached an agreement with “Sanoat Energetika Guruhi” PE LLC to sell a 100% stake in UzAssets in the charter capital of Fergana Oil Refinery LLC for $100 million. KPMG Valuation and Consulting LLC was recruited as a privatization consultant to organize the sales process. An international appraisal…