20% orders canceled, hundreds of garment factories at risk of closure
In the last 6 months, about 20 percent of ready-made garment orders have been canceled by foreign buyers. They are still not getting confidence in labor unrest. Entrepreneurs said that they have little confidence in the factories in Ashulia area. According to BGMEA and BKME, about 100 factories across the country will be closed in the next 6 months if the situation does not improve. The number of small and large garment factories in Savar and Ashulia is 450. Factories in this area were hit by labor unrest after the July coup. About 200 factories listed under BGMEA and BKMEA have been closed. BKMEA president Mohammad Hatem said, 'Brands and buyers are now very careful and aware in giving work to any factory in the Ashulia belt. They suffer from lack of confidence. The evidence that our order is going to another place will be available ahead. Traders say that the stress of 6 months of instability will last until June next year. If the situation is not resolved, there is a ris...
