US keen to greatly help Bangladesh diversify its private sector
Image: Collected
'I can let you know that from the government perspective, among the things that we’re looking at to help Bangladesh with, is how Bangladesh can diversify its private sector...,' USAID Deputy Administrator Bonnie Glick says
The United States said it wished to help Bangladesh to diversify its private sector to go some of it away from the ready-made garment (RMG) industry into other high-value areas like the digital economy.
"I can let you know that from the US government perspective, among the things that we’re looking at to help Bangladesh with, is how Bangladesh can diversify its private sector...," US Agency for International Development (USAID) Deputy Administrator Bonnie Glick said in a telephonic briefing.
US Under Secretary of State (Economic Growth, Energy, and the surroundings) Keith Krach also spoke at the recent event.
Glick said Bangladesh, to become a competitive player in the Clean Network, had taken some important steps towards the Clean Path, and coming in line with Clean Network requirements.
The Deputy Administrator said she announced the brand new memorandum of knowing that was with a consortium folks retail, apparel, and footwear companies and industry associations with an eye toward helping supply chain workers, almost all of whom are women, in Bangladesh, Sri Lanka, Vietnam, and Cambodia.
"These are countries that rely heavily for their growth in income on the garment industry, which is a sector that was particularly hard-hit by the Covid-19 pandemic," said Glick.
USAID Deputy Administrator Bonnie Glick on Wednesday made the announcement at the united states Government’s third gross annual Indo-Pacific Business Forum hosted virtually out of Hanoi, Vietnam.
The Covid-19 has had a devastating effect on global supply chains. "It has disrupted trade and investment. It has put frontline personnel at risk and eliminated the jobs of an incredible number of other workers, especially women, and it did so with unprecedented speed and scale," she said.
The apparel, footwear and products sector in Asia has been being among the most influenced industries challenged by supply-and-demand constraints that arose from stay-at-home orders, short-term business closures, production stoppages, backlogs in shipment, cargo delays, and other things.
"The MoU that people signed establishes an intent to interact over the coming year on efforts that will assist alleviate hardships faced by the predominantly women workers in the companies’ supply chains in these four countries," Glick said.
And these efforts, in collaboration with local partners, are aimed to greatly help to foster a far more resilient sector and workforce, she said.
"It’ll enhance factory worker rights and welfare, and it’ll better empower women workers."
The participating companies and industry associations are that are partnering with through the MoU are Carter’s Incorporated, Gap Incorporated, Global Brands Group, Levi Strauss & Co, Nike, Tapestry, Target, VF Corporation (that’s V like victory, F like francisco Corporation), Walmart, American Apparel and Footwear Association, the National Retail Federation, the Retail Industry Leaders Association, and the united states Fashion Industry Association.
Since last year’s Indo-Pacific Business Forum (IPBF), that was in Bangkok, USAID has dedicated $250 million to expand partnerships with governments, civil society, and the private sector in countries over the Indo-Pacific region to get monetary growth activities including energy, infrastructure, digital connectivity, and trade.
The level of investment that's open and ready for -- just to meet current needs, is over $2 trillion by 2030.
Source: https://www.dhakatribune.com