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BD invests 14.36 percent export revenue to hire foreign employee

Figure: Foreign expatriates of different countries work in Bangladesh
Figure: Foreign expatriates of different countries work in Bangladesh

Bangladesh is the second largest readymade garments exporter in the world, every year the industry earns a large amount of foreign currency. Bangladesh’s RMG export earnings stood at $28.14 billion in the last FY 2016-17, which is o.19 percent higher than the $28.09 billion achieved in FY 15-16. It is a matter of sorrow that every year Bangladesh invests about 14.36 percent export revenues to hire foreign employees. Last FY the total export of the country was $34.84 billion.

The Experts opined that, if the country could employ its own skilled employees a huge amount of foreign currencies could be saved and unemployment problem could be solved.

It is seen that about $ 12.76 billion has been sent from Bangladesh and the foreign employees withdraw nearly $5 billion according to BB. Mostly India, Pakistan, Sri Lanka, China, Taiwan, South Korea and some European and African countries employees are working in Bangladesh RMG, IT and other manufacturing industries.

Normally BoI (the Board of Investment), BIDA (Bangladesh Investment Development Authority), NGO Affairs Bureau and BEPZA, (Bangladesh Export Processing Zones Authority)- issue the work permits for the foreigners who are holding vital positions like merchandiser, quality controller, designer, marketing officer and technician at washing and dyeing units mostly in garments, buying houses and liaison offices.

Every year a large amount of currencies is invested but there are no details of foreign expatriates, their position and sectors. Though 10000 registered foreigners are working in BEPZA, NGO and BOI but the total number is more than 500000. According to the Daily Star, CENTRE for Policy Dialogue (CPD) has recommended that the government should form a committee to investigate the large remittance outflows to India.

CEBAI a joint association of Sweden & BEGMEA decided to survey on foreign expatriates on different sectors to minimize the currency loss employing local skilled people in different sectors that also help to reduce unemployment problem.

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