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How to improve competitiveness of garments Industry

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Description Bangladesh’s competitiveness
Productivity was consistently mentioned by all those interviewed as important to Bangladesh’s competitiveness. But other elements were also mentioned. Labor, whether for its low cost or its adaptability, is mentioned unanimously as the key comparative advantage of Bangladesh, while bad infrastructure and lack of backward linkages are most often mentioned as impediments to Bangladesh’s competitiveness. Some buyers even expressed their appreciation for an intangible quality that is present in Bangladesh among its entrepreneurs and workforce.</p> <p> Price is constantly mentioned by factory owners as the basic criterion for competitiveness. …The buyers will buy their products from the cheapest sources. Bangladesh is offering competitive prices. The cost of production has gone up in China due to increase in wages. Garment prices have also gone up in other countries…" (Factory owner) But as other studies have also found, if good price and quality remain the fundamental requirements, international retailers want …more" from countries like Bangladesh. Buyers also expect reliability, full package production, and a quick time to market.</p> <p> Strengths and weaknesses :</p> <p> Overall, stakeholders agree that the workforce is the main asset of the country, provided that more effort is put into increasing its productivity. Indeed, while productivity is seen as one of the most important factors in making Bangladesh competitive, it is also cited as one of the country’s top weaknesses.<br /> The next top weaknesses mentioned by stakeholders are, in order of importance, poor infrastructure, long lead times, lack of backward linkages, poor working conditions, and weak design and fashion details.</p> <p> Strengths include cheap labor and good quality products. Factory workers are the most convinced of the quality of their work , while factory owners acknowledge that they have to
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Submission Date Apr 22, 2013
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