Bangladesh’s manufacturing sector, particularly the ready-made garments (RMG) industry, has been a cornerstone of its economy. To sustain growth, there is a pressing need to enhance productivity through technology adoption and innovation. A World Bank report emphasizes that firms with higher technology levels in Bangladesh’s manufacturing sector perform better, suggesting that strengthening innovation and technology adoption can boost productivity.
Additionally, diversifying exports beyond RMG is crucial to mitigate risks associated with over-reliance on a single sector. Addressing infrastructural bottlenecks and improving the business environment will further bolster export competitiveness.
