First of all, I would like to express my thanks to the international business magazine The InCAP, and their mother concern and publisher International Corporate Association of Professionals (InCAP), for their relentless hard work year after year.
The year 2020 was not a great year for us. The coronavirus pandemic is taking a heavy toll on Bangladesh, which is the world’s second-largest garment exporter. The industry is rapidly losing orders, and millions of jobs are at stake. Bangladesh’s ready-made garments sector accounts for around 80% of the country’s manufacturing income, with at least 4 million workers depending on it. Although the number of COVID-19 cases is not too high in the South Asian country, the pandemic poses a great risk to this sector and the livelihood of garment workers. So far, Bangladesh has lost around $1.5 billion (€1.4 billion), which has impacted some 1.2 million workers.
The adverse situation is gradually coming to an end. The central bank of Bangladesh and the government seem to have a view that everything will come back quickly, and we can expect full recovery by 2021. I hope that turns out to be accurate; I’m very optimistic.
Keeping an eye squarely on the future, we will advance significant reforms associated with our national vision. Beyond that, we will beautifully decorate our personal life. We should determine to work towards nation-building for a new era. Expressing this conviction, I wish everyone a very Happy New Year!
A.R.M. Shahidul Haque Apu
Director
Renaissance Group
