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Copenhagen Consensus Center

RMG: Smartest Strategies

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Investing in readymade garment factory compliance would return 14 takas of social good for every taka spent. Bangladesh Priorities research identifies the smartest ways to invest in the future of the readymade garment industry in Bangladesh.

Bangladesh's manufacturing sector has grown steadily as the country has industrialised. Manufacturing now accounts for 30 percent of GDP, nearly double the share of agriculture. That industry is largely driven by the readymade garment (RMG) sector, which represents a whopping 85 percent of all export earnings and employs 4 million people, 80 percent of whom are women.

While global demand for RMG products is expected to surge in coming years, Bangladesh's sector must continue to progress and evolve in order to take advantage of it. Some of the RMG industry's most pressing current issues include poor compliance, inadequate infrastructure, and meager power capacities, all of which hinder overall competitiveness.

What are the smartest strategies to ensure a dynamic future for the readymade garment industry?"

Read more in Bjorn Lomborg’s article published by The Daily Star.