Germany's AMANN Group plans fresh investment, factory expansion in Bangladesh
BGMEA seeks support to attract more German buyers
Germany-based industrial sewing and embroidery thread manufacturer AMANN Group plans to expand its factory operations and make fresh investments in Bangladesh, the company's Chief Executive Officer Markus Nicolaus said at a meeting with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders in Dhaka.
The announcement came during a bilateral meeting between BGMEA President Mahmud Hasan Khan and an AMANN Group delegation at the BGMEA Complex in Uttara recently, according to a press release issued yesterday (23 May).
The meeting discussed the capacity of Bangladesh's readymade garment sector, current challenges in the international market and future investment strategies. BGMEA Director Md Hasib Uddin was also present.
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Mahmud said Bangladesh's apparel sector was recovering after a slowdown in exports earlier this year caused by global economic uncertainty.
"Bangladesh's readymade garment industry is now going through a major transformation. We are putting strong emphasis on product diversification. But our current goal is not only to increase export volume, but also to produce higher-value garments," he said.
He said AMANN Group could support Bangladesh's apparel sector not only as a thread supplier but also as a strategic business partner.
Mahmud said many reputed German brands were still not sourcing from Bangladesh and requested AMANN to present Bangladesh's transformed apparel industry and production capacity to those brands.
Announcing the company's factory expansion plan in Bangladesh, Markus Nicolaus said Bangladesh's readymade garment sector had strong future potential.
"We are closely observing which other sectors here may attract new investment. There are major investment opportunities, especially in Bangladesh's high-tech textile sector," he said.
He said AMANN wanted to serve the premium segment and meet demand from high-end international brands through its products.
The AMANN delegation asked about global and local risk factors in the apparel sector, Bangladesh's labour standards, current US tariff policy and its impact on international trade.
The meeting also discussed the country's port, energy and logistics infrastructure and future development plans.
AMANN Group operates in Bangladesh through AMANN Bangladesh Ltd.
