Global Market Expansion of Bangladeshi Garment Products: Challenges, Strategies and Economic Implications.
Chowdhury, Md Arman (2023)
Chowdhury, Md Arman
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023121336712
https://urn.fi/URN:NBN:fi:amk-2023121336712
Tiivistelmä
The ready made garment (RMG) sector in Bangladesh has emerged as a cornerstone of the country's economic landscape, driving substantial export earnings, and generating employment opportunities. However, its growth and continued success are marred by a multitude of challenges, from weak infrastructure and limited negotiation capacity to increased international competition and shifting buyer dynamics. This thesis explores the challenges facing the Bangladeshi RMG industry and delves into strategies that can propel it toward global market expansion.
Championing a transformation in infrastructure, this study underscores the need for specialized RMG industry zones and reliable power supply as a prerequisite for sustaining and enhancing the sector's competitive edge. Efficient political and commercial negotiations and partnerships with global buyers are seen as key drivers for success. Technical education facilities, along with financial instruments, hold the potential to boost productivity and innovation.
Furthermore, the thesis promotes forward integration, emphasizing the importance of creating a positive brand image and entering new markets and product segments. In examining these strategies, the study seeks to encourage diversification away from the RMG sector's dependence on a handful of countries, reducing vulnerability to shifting market dynamics.
As these strategies are implemented, the Bangladeshi RMG sector can realize its full potential and contribute significantly to the country's socio economic development. Despite existing challenges, the RMG industry has the potential to enjoy a more prosperous and impactful future. This thesis thus aims to serve as a roadmap for industry stakeholders, policymakers, and all those invested in the future of Bangladesh's RMG sector.
Championing a transformation in infrastructure, this study underscores the need for specialized RMG industry zones and reliable power supply as a prerequisite for sustaining and enhancing the sector's competitive edge. Efficient political and commercial negotiations and partnerships with global buyers are seen as key drivers for success. Technical education facilities, along with financial instruments, hold the potential to boost productivity and innovation.
Furthermore, the thesis promotes forward integration, emphasizing the importance of creating a positive brand image and entering new markets and product segments. In examining these strategies, the study seeks to encourage diversification away from the RMG sector's dependence on a handful of countries, reducing vulnerability to shifting market dynamics.
As these strategies are implemented, the Bangladeshi RMG sector can realize its full potential and contribute significantly to the country's socio economic development. Despite existing challenges, the RMG industry has the potential to enjoy a more prosperous and impactful future. This thesis thus aims to serve as a roadmap for industry stakeholders, policymakers, and all those invested in the future of Bangladesh's RMG sector.