Haystack

NY private equity firm to invest $200m in RMG in Bangladesh

TAU Investment Management LLC, a New York-based growth-equity venture investment firm is currently in the process of raising a US$1.0 billion for modernisation of the garment and textiles industries in Bangladesh, Indonesia, Cambodia, Vietnam China and, to lesser extend, in Turkey. The fund is backed by the Soros family, Yahoo co-founder Jerry Yang and the Global […]

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Bangladesh Govt. draft policy for RMG sub-contracting

The government of Bangladesh has drafted a new policy to bar non-compliant sub-contracting readymade garment (RMG) factories from doing business with exporters, official sources said. The government, after consulting local and international stakeholders, is framing the new ‘sub-contracting policy 2013’ with a view to ensuring a positive working environment in the sub-contracting business. The policy […]

Yawning gap between pledges and delivery to Rana Plaza victims

Many Rana Plaza victims are yet to receive the promised compensation from the government and retailers, nine months after the Bangladesh’s worst industrial disaster on 24th April 2013. To date, families of 777 of the 1,135 dead workers have received from EUR 1,000 to 5,000 thousands Euro each from the Prime Minister’s Fund, while the […]

Recent News

FDI into Bangladesh declines as methodology revised to IMF standards

Net inflow of Foreign Direct Investment (FDI) into Bangladesh appeared much lower than it was estimated earlier as the central bank revised the data matching an updated matrix of the IMF. The FDI netting in the last fiscal year, 2015-16 (FY16), was estimated at US$2 billion, but the latest calculations put it at $1.29 billion. Bangladesh Bank […]

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Local value addition of RMG reaches ‘optimal’ level

Local value addition of the Bangladesh’s readymade garments (RMG) industry has reached its ‘optimal level’, according to the latest statistics published by the Central Bank of the country Bangladesh Bank. It’s quarterly review on RMG sector shows that local value addition of the industry was 73.12 per cent in fiscal year (FY) 2008-09, which rose to […]

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Bangladesh Govt. Cash Subsidies for Exporters in FY 2015-16

The government of Bangladesh has released cash incentives amounting to BDT 8.75 billion for disbursement among major exporters for fiscal year (FY) 2015-16. This amount of subsidies will be distributed among the business communities, which export goods, meaning they will still make profit if they even export goods at it’s production costs. 35 billion total annual allocation […]

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Japan’s US$1.20b development aid package to Bangladesh facing delay

Japan’s nearly US$1.2 billion soft loan for five development projects is facing delay despite Bangladesh government’s efforts for confirming the assistance, officials said Wednesday. The loans are arranged under the Tokyo-assured 36th development aid package. Gloomy business and political environment as well as increased dependence on a certain bilateral donor country are cited as major reasons […]

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Korean Export Processing Zone at serious risk

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Instead of handing over the Korean Export Processing Zone (KEPZ) to the investor, the government of Bangladesh plans to take back […]

Dhaka needs to remove its rocky anti-FDI atmosphere

Korean Ambassador to Bangladesh Lee Yun-young

Korean Ambassador to Bangladesh Mr. Lee Yun-young has said Bangladesh should come out from protectionism and open up its market […]

‘Welfare Associations’ to negotiate for rights at Bangladesh EPZ

The Government of Bangladesh today approved, in principle, draft of a labour law for Export Processing Zones (EPZ) with the provision […]

Return of GSP seems far off – a lot more must be done

Bangladesh’s progress in implementation of the National Tripartite Plan of Action on Fire Safety and Structural Integrity (the Action Plan) which provides a […]

Bangladesh halts shutdown of “unsafe” factories

The Bangladeshi government is refusing to shut down garment factories declared unsafe, following a row with independent inspectors over the […]