RMG industry can drive Bangladesh's future growth: Fakhrul

He made the remarks while addressing the BAGMA Annual Programme-2026 as the chief guest at a city hotel in the capital.

The theme of this year's conference was "RMG 360 Degree: Challenge and Opportunity."

Fakhrul said the country's RMG sector began as a labour-intensive industry aimed at creating employment opportunities for a large number of people.

"Today, the garment industry has become the biggest foundation of Bangladesh's economy. Its progress, reflected in newspapers and other media, shows that Bangladesh can move much further forward by building on this sector," he said.

Describing Bangladeshis as highly innovative and hardworking, Fakhrul said late President Ziaur Rahman had promoted labour-intensive industries to create employment opportunities for millions of people.

Referring to the country's economy, the minister said the large-scale smuggling of wealth abroad in previous years had pushed the economy into serious difficulties, making economic reconstruction one of the government's biggest challenges.

He said the rebuilding process has already begun under the leadership of Prime Minister Tarique Rahman.

According to Fakhrul, the recently passed national budget has incorporated new areas, including the creative economy, creating opportunities to rethink the country's economic development strategy.

"If these initiatives are implemented properly, Bangladesh will move further ahead," he said.

Highlighting the country's agricultural achievements, Fakhrul said Bangladesh had a population of around 75 million at the time of independence and faced a food deficit of approximately 2.8 million metric tonnes.

He said although the population has now reached nearly 200 million, the food deficit has almost disappeared due to the contributions of farmers, agricultural scientists and the use of modern technology.

"This success is proof of the innovative capacity of the people of Bangladesh," he added.

Among others, BTMA President Shawkat Aziz Russell, BGBA President Md Abdul Hamid Pintu, Impress Newtex Director Nasir Uddoula representing BGMEA, foreign diplomats, entrepreneurs from leading garment manufacturing companies and senior government officials attended the conference.

The programme also featured discussions on the current challenges facing the garment sector, global competition, sustainable growth and future opportunities.

Speakers placed various recommendations on strengthening Bangladesh's RMG industry to address global economic challenges and ensure its continued growth, reports UNB.