Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) yesterday called for providing special focus on fast-growing trends in information technology for cost efficiency and self-survival to overcome COVID-19 impact.
The chamber made the call at the BMCCI Web Talk Series, Session-7, titled “RMG Industry Pre COVID and Post COVID”, powered by ROBI, said a press release.
It discussed the features of the current and post pandemic circumstances of Ready-made Garments (RMGs) Industry and its impact on Bangladesh economy.
BMCCI President Raquib Mohammad Fakhrul, Minister Counselor of the High commission of Malaysia in Bangladesh Mohammad Khalil Ibrahim and Senior Vice President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faisal Samad, among others, delivered speeches on the occasion.
Welcoming the viewers, Raquib Mohammad Fakhrul said Bangladesh economy remains highly dependent on the ready-made garments industry for manufacturing employment, foreign reserve and women empowerment.
“The industry contributes 11.2 percent to the gross domestic product of the country. For instance, he said, more than 4,600 RMG factories constitute the largest industrial sector in the country and contribute to 36 percent of manufacturing employment engaging 4.1 million workers,” he added.
He said industrious, disciplined and low-cost women workers are the backbone of this industry. “With 61 percent women employment, the RMG industry has played a crucial role in women empowerment and gender equity,” he added.
He said major global fashion brands have taken prompt responses to help in flattening the Coronavirus curve and this has left significant impacts on worker employment, revenues and overall operations.
Mohammad Khalil Ibrahim said in the current pandemic situation, COVID-19 has changed the purchasing habits for the world within a month. “The effects of coronavirus across the globe are uncontrolled and unstoppable. Due to that, the expeditious growth of internet usage has been a vital possession for all the organizations and it has been dramatically changing the way business is being conducted,” he added.
In a competitive environment, he said, companies have to put their focus on the fast-growing trends in information technology for cost efficiency and self-survival.
He further said Malaysian government has recognized COVID-19 as an occupational disease to allow public assistance in the event of infection or worse.