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Saturday, February 24, 2024

Textile & garment sector accounts for the lion’s share in Bangladesh’s FDI

The Bangladesh textile and garment sector accounted for the highest foreign direct investment (FDI) inflow into the country which amounted to US $1.22 billion in the earlier fiscal. “However in the fiscal ending June 2023, overall FDI inflows into the country contracted to $3.2 billion, down 7 percent from a year ago period,” data released by the central bank of Bangladesh said.


Among the countries that invested in the textile and garment sector, South Korea accounted for the highest share around 30 percent of all FDI flows at $435 million. Among the rest of the countries, $174 million came from Hong Kong, $112 million from China, and just $54 million from India.

When considering overall FDI flowing into Bangladesh, the UK stood first at $622 million. Investments from South Korea followed closely at $603 million and the Netherlands at $512 million. Other countries that contributed to FDI inflows in fiscal 2023 included Hong Kong with $371 million, the US at $347 million, Singapore with $330 million, and China at $232 million.

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