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Investment Minister of the United Kingdom (UK) Lord Dominic Johnson has expressed his interest to invest in the recycling industry of Bangladesh’s readymade garment sector.
British investment minister showed his interest in a meeting with Prime Minister’s Private Sector Industry and Investment Adviser Salman F Rahman in London on Friday.
During the meeting, they also expressed interest to work more closely for further development and expansion of trade between the two countries, said a press release issued by Bangladesh High Commission in London.
Salman Rahman has urged the UK businessmen to invest more in Bangladesh’s environment-friendly sectors, including the recycling industry.
He highlighted various aspects of the unprecedented economic growth and social development of Bangladesh under the leadership of Prime Minister Sheikh Hasina.
Seeking more investment from the United Kingdom, he said Bangladesh needs huge investments in the recycling industry, especially for recycling in the garment sector.
Salman mentioned that many initiatives have been taken in Bangladesh in recent times in this industry which is labour-intensive and helps to protect the environment.
Reputed and large global consumers have begun to fill a significant portion of their purchases with apparel made from recycled fibres, he said, adding that being environmentally-friendly and helpful for the circular economy, its volume will increase further.
Referring to the need for electricity generation in the renewable energy sector, he said as Bangladesh is unable to provide the land required for electricity generation in the renewable energy sector, which disrupts food production, the UK can invest in solar power generation through floating technology.
He opined that the UK businesspeople also can invest in agro-processing and other agro-based industries.
Salman informed Johnson that the United Kingdom can establish a special economic zone in Bangladesh or allocate land in an existing economic zone.
