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Hyosung, BGMEA discuss investment opportunities

Staff Correspondent
12 Feb 2024 19:24:58 | Update: 12 Feb 2024 19:24:58
Hyosung, BGMEA discuss investment opportunities
— Courtesy Photo

Hyosung Corporation Vice President JG Lim on Monday paid a visit to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan.

The visit, which included Country Head Noh Chy Chy Woo and Business Development Manager of Hyosung Corporation Md Akter Hossain aimed to discuss investment potential in Bangladesh and possible avenues of collaboration for mutual trade benefits.

The meeting followed a previous delegation visit, led by BGMEA President Faruque Hassan, to Hyosung Corporation in October last year, reads a press release.

Discussions primarily focused on investment opportunities in the high value-added and non-cotton textiles sector in Bangladesh.

Both sides also discussed the possibility of technical collaboration between Hyosung Corporation and Bangladeshi companies, with a specific emphasis on enhancing capacity in manufacturing garments using nylon, polyester yarns, and spandex fabrics.

During the meeting, BGMEA President Faruque Hassan highlighted the industry’s growing interests in diversifying into non-cotton products, particularly high-value fashion items based on man-made fibers (MMF) and technical textiles.

He urged Hyosung Corporation to consider investing in the non-textile sector of Bangladesh, highlighting the country’s strategic position in the global supply chain and its favorable business environment.

Hyosung Corporation is a leading fiber manufacturer producing world-class products, including creora, spandex yarn, aerocool and askin, polyester, and nylon yarn.