RMG sector to be key partner in rebuilding Bangladesh’s economy: Fakhrul

Bangladesh’s economy would recover despite its current challenges, and the ready-made garment (RMG) sector would be a key partner in that effort, Local Government, Rural Development and Cooperatives Minister Mirza Fakhrul Islam Alamgir has said.

Speaking as the chief guest at the BAGMA Annual Program 2026 in the capital today (17 July), he said the RMG sector was one of the main pillars of the country’s economy and could drive Bangladesh’s future growth.

The event, organised by the Bangladesh Apparel General Managers Association, focused on the development of the ready-made garment sector, global challenges, and strategies for sustainable growth.

“The RMG sector is now one of the main pillars of the country’s economy. It took off during the tenure of late president Ziaur Rahman and has since grown into one of the country’s strongest economic sectors,” Fakhrul said.

He also said the garment industry has grown into one of the country’s strongest economic sectors and could help drive Bangladesh’s future growth, but acknowledged that the economy had faced major challenges in recent years, including large-scale capital flight.

“Rebuilding a weakened economy is not easy, but it is possible through collective efforts,” he added.

The minister said Bangladesh could tap into new opportunities through skills development, innovation, and the growth of the creative economy. Initiatives to improve management and develop a skilled workforce in the garment sector would further strengthen the industry’s capacity, he added.

He also said the government would continue to support employment generation, industrialisation, and private sector growth by creating a more favourable environment for investment, production, and innovation.

Referring to the challenges facing the industry, Fakhrul said shortages of electricity and gas, along with high lending rates, remained major concerns for entrepreneurs.

“We will discuss these issues with the stakeholders concerned and take the necessary steps to resolve such issues,” he added.

Industry representatives also discussed the garment sector’s prospects, challenges, skills development, and future priorities during the programme.