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Entrepreneurs in Bangladesh’s apparel sector should emphasize upskilling of human resources. We also need to focus on introducing new technologies available in the market. We are now in a lean period for the apparel industry as many product orders are starting to migrate to Bangladesh.
However, although the speed of diversification is very slow, we see good growth in some cases as many entrepreneurs are trying to get out of producing basic items. As part of this, we are increasing our capacity to produce critical and semi-critical products. But the industry still needs to manufacture basic items.
It’s not wise to get out of basic item crafting entirely. We need to keep our cotton base, but it should be for high-end items, not low-value apparel. It’s like doing business day by day.
Bangladeshi apparel entrepreneurs have a very progressive mindset on diversification. They are already investing in it. However, entrepreneurs in neighboring countries are reluctant to invest in high-risk investments.
When it comes to automation, that process also requires people. Automation and skilled manpower are needed in tandem. As a brand, we also provide regular training for all employees to develop their skills. If you have skilled people in your organization, they can easily run new projects.
I said in the middle of last year that the Ukrainian war had an impact on the industry. And usually July, August and September are already lean months. Last year felt a little different due to Covid-19. Because business went down during Covid-19. 2021 has risen.
Business, like our heartbeat, has a heartbeat. Given where we are now in terms of heart rate, I’d say we’re at a lower point. What happens when heart rate drops even further? There is no option to actually die. Guess I’ll move it up later.
Now the question is how can you increase your heart rate. The main challenge for developed countries is energy. In winter, Bangladesh’s energy demand decreases, but their energy demand increases. If Russian gas is not available, we buy liquefied natural gas at a much higher price.
After February they will find out how to survive without Russia’s help and that they don’t need to block a lot of money just for energy. increase. If this continues, the economy will suffer. Since then, there has been no electricity crisis, and businesses will recover if people are encouraged.
After that, orders may come to Bangladesh in March. But those orders he won’t be delivered by September. So the second half of the year is going well. The first half is still there.
However, preparation as a manufacturing country is necessary.
Although the economic situation is a bit bad at the moment, investment is slowing down. However, if you have skilled manpower, there is no need to delay your investment. Because when you talk about automation, it’s the humans who have to make it work. And then you need automation. But automation also requires the right people. Then you can grow your business through automation.
Industrialists need to upskill their workforce now. If workers are not trained now, it will be difficult to face future challenges. Other countries are already focusing on developing skilled workers and later on creating new technologies.
The author is the country manager of G-Star RAW
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