From factory fires to slave labour, the growth of mass manufacturing in South East Asia has not been problem-free, but having shed its "sweatshop" reputation, the region could have lessons for Bangladesh. Workers wrap up shirts at a garment factory in Hanoi The deaths of at least 550 people in the building collapse near Dhaka last week has unleashed global consternation over conditions in the factories that produce fast fashion -- cheap, catwalk-inspired clothes -- for top global brands. Amid talk of consumer boycotts, Bangladesh needs to reform its industry before people wonder "if they should be wearing blood-stained dresses", Kalpona Akter of the Bangladesh Centre for Worker Solidarity told AFP. Vietnam -- which produces clothes for fashion industry giants Zara, Mango and H&M -- shows it is possible to have "extremely strong" labour laws, fair wages and a healthy garment industry, experts say. "It is not a race to the bottom here," Tara Rangarajan, program manager of … [Read more...] about Fast fashion, fair wages: Vietnam’s lesson to Bangladesh
Bangladesh investment development authority
More investment worries local government
More investment worries local governmentBy Quoc Hung An exhibition of textile and garment machinery in HCMC. Aside from environmental pollution, some localities are also afraid of textile and garment projects because they are labor-intensive ones which require large armies of migrant workers – PHOTO: THANH HOA Conclusions of Free Trade Agreements (FTAs), bilateral and multilateral alike, plus the accompanying shift of garment and textile projects from overseas to Vietnam, have become a source of concern for some local authorities as they are afraid of possible pollution, particularly in the dyeing process Propelled by bilateral and multilateral FTAs signed recently, Vietnam is now emerging as one of the top spots in the world for investors in the garment and textile industry. In reality, several garment and textile projects have been being relocated from foreign countries to Vietnam. This remark was from Nguyen Thi Tuyet Mai, secretary general cum chief representative of … [Read more...] about More investment worries local government
Bangladesh, another potential market for Vietnam
According to the Vietnam Chamber of Commerce and Industry, Bangladesh is currently one of the biggest markets in the South Asian Region and with a population of 161 million people is also a potential growth market for Vietnamese products because of its strong purchasing power. Bangladesh is not a completely new market for Vietnam, but trade between the two countries is low-key as Vietnamese firms are still hesitant to tap this market. However, in the past few years, some Vietnamese companies have started to trade with Bangladeshi companies and with positive results. Since 2003, footwear producer Biti’s has realized the potential of the Bangladeshi market, after already tapping into markets in Nepal, India, and Pakistan. In 2004, Biti’s chose five official distributors in Bangladesh and began to sell products there. Now, sales of the company are showing a steady growth. In July this year, the Hoa Phat Group exported the first batch of 10,000 tons of blast-furnace slag to … [Read more...] about Bangladesh, another potential market for Vietnam
FPT to develop tax management system for Bangladesh
FPT IS, a member company of FPT Corporation, wins an international bid to provide an integrated tax administration system for Bangladesh tax agency. — Photo courtesy of FPT HA NOI (Biz Hub) — FPT Information System Company Ltd (FPT IS) announced on September 9 that it has won an international bid to provide an integrated tax administration system for Bangladesh's Income Tax Department. The department is under the country's central authority for tax administration, the National Board of Revenue. The US$6.6-million project, which will be funded by the Asian Development Bank (ADB), is expected to become operational after 16 months of implementation. The company will implement several information technology services in the project, such as building hardware infrastructure and developing SAP tax and revenue management software applications. The system aims to help the people of Bangladesh to save time and money by doing online income-tax transactions. It will also enhance the … [Read more...] about FPT to develop tax management system for Bangladesh
Developers adopt new survival strategies
by Thien Ly The State Bank of Viet Nam has loosened its grip on real estate loans recently in a long-awaited move that some industry insiders say may help revive the stagnant market. The central bank excluded some types of real estate loans from the list of "non-production" loans – a credit category that commercial banks have been specifically ordered to control this year. As a result, restrictions have been lifted on loans for home repairs, home purchases, and home construction but eligible borrowers are limited to wage earners only. Developers can also apply for bank loans as long as they are developing housing projects for low-income groups or other residential projects that can be put into use by January 1, 2013. Following the new policy, many banks plan to increase lending to the real estate sector. However, many real estate developers do not have enough time to wait for low-cost capital sources. Many of them say bank loans are still beyond their reach while their projects … [Read more...] about Developers adopt new survival strategies