Bangladesh’s foreign direct investment (FDI) inflow to the textile and weaving sector last year was worth $271 million—an 11 per cent rise from $244 million the preceding year, according to data from the Bangladesh Bank. South Korea was the largest investor in the sector with an investment of $50.32 million, followed by Hong Kong at $35.11 million.
They were followed by China ($25.19), the United Kingdom ($14 million), the Netherlands ($6.18 million), the United States ($11 million), the British Virgin Islands ($26.46 million), Sri Lanka ($22.36 million) and India ($11 million).Bangladesh's foreign direct investment (FDI) inflow to the textile and weaving sector last year was worth $271 million—an 11 per cent rise from $244 million the preceding year, according to data from the Bangladesh Bank. South Korea was the largest investor in the sector with an investment of $50.32 million, followed by Hong Kong at $35.11 million.#
However, the overall foreign investment in Bangladesh declined by 10.80 per cent to $2.56 billion in 2020compared to $2.87 billion in 2019.
As the country has the capacity to over-produce traditional garment items, it is gradually moving towards higher-value goods, Centre for Policy Dialogue (CPD) research director Khondaker Golam Moazzem told a newspaper.
FDI should also come into backward linkage and textile sector as the country is still importing huge amounts of fabrics, he added..
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