Ready Made Garment Sector (RMG)
The Ready Made garment industry in Bangladesh is not the outgrowth of traditional economic activities but emerged from economic opportunities perceived by the private sector. Bangladeshi products met quality standards of customers in North America and Western Europe, and prices were satisfactory and many owners made back their entire capital investment with a year or two and thereafter continued to realize great profits. Some 85% of Bangladeshi production was sold to North American customers and virtually overnight Bangladesh became become the 6th largest supplier to the North American market. After foreign business, began building a ready-made garment industry, Bangladeshi capitalists appeared and a veritable rush of them began to organize companies in Dhaka, Chittagong and small towns. With no government regulating the number of firms that proliferated, no definitive count was available.
