SK Trims and Industries Reports Tk 4 Crore Loss

In 2024, Bangladesh's apparel exports to the European Union grew by 4.8%, reaching €18.27 billion, up from €17.44 billion in 2023. This marks a recovery from previous setbacks, aided by factors like duty-free market access, improved workplace safety, and quality products.

A study found that 98.7% of Bangladesh’s RMG workers did not participate in the universal pension scheme (UPS) due to financial constraints (64.7%) and lack of awareness (75.3%). Conducted on 200 workers across key industrial areas, the study highlighted that high premiums under the Progoti scheme and rigid conditions—such as mandatory 10-year contributions and no withdrawal or loan facilities—discouraged participation.

Bangladesh’s merchandise exports grew 5.7% year-on-year in January 2025, reaching $4.43 billion, primarily driven by a 5.57% rise in readymade garment (RMG) exports to $3.66 billion, according to EPB data. Total exports in the first seven months of FY25 rose nearly 12% to $28.96 billion, compared to $25.93 billion in FY24.

Ha-Meem Group has installed a 4.4MWp rooftop solar power plant, raising its total renewable capacity to 12.2MWp. The system, costing Tk 54 crore, includes a Tk 7 crore grant from a garment sector safety and environmental program.

Bangladesh’s Simco Spinning & Textiles, the first certified garment waste recycling facility in the country, is facing a trademark dispute with Swiss sportswear giant ON over similar brand names—Cyclo and Cyclon. Simco registered Cyclo in Singapore in 2014 and expanded to 20+ countries, supplying recycled yarn to global apparel manufacturers.

Four state-owned enterprises (SoEs) in Bangladesh reported cumulative losses of Tk 28,238 crore over 28 years due to inefficiencies. The Bangladesh Jute Mills Corporation (BJMC) closed 25 mills in 2020, incurring Tk 9,497 crore in losses over 28 years, with profits reported only once.