Textile Sector Faces Investment Drought in 2023, says BTMA President
Textile Sector Faces Investment Drought in 2023, says BTMA President
The Bangladesh Textile Mills Association (BTMA) President, Mohammad Ali Khokon, reported a significant lack of new investments in the country's primary textile sector throughout 2023. This downturn is attributed to both internal and external factors, notably a severe energy shortage within the country and a global economic slowdown.
Khokon highlighted that, to his knowledge, there were no new investments in capital machinery in the country's textile sector in 2023. He emphasized the prolonged shortage of gas, which led to a 50% reduction in production in 2022 and a further decline to 40% in the first month of 2024. Gas supply interruptions have impacted various industrial belts, contributing to this decline in product...