The COVID-19 pandemic has had a significant impact on the ready-made garment (RMG) industry in Bangladesh, which is one of the country's largest and most important sectors, accounting for around 80% of the country's exports and providing employment to over 4 million workers.
The impact of COVID-19 on the RMG industry of Bangladesh can be seen in the following ways:
Orders Cancellations: Many retailers and brands in the US and Europe canceled their orders or postponed them, leading to a severe drop in demand for Bangladeshi-made garments.
Supply Chain Disruptions: The pandemic has disrupted global supply chains, causing delays in the delivery of raw materials and finished products. This has caused significant challenges in meeting production deadlines and increased the cost of production.
Factory Closures: To contain the spread of the virus, many factories in Bangladesh had to temporarily shut down, causing significant financial losses for factory owners and job losses for workers.
Health and Safety Concerns: The pandemic has also raised concerns about the health and safety of workers in factories, leading to the need for additional safety measures and increased costs for factory owners.
Overall, the pandemic has had a severe impact on the RMG industry in Bangladesh, with many factories struggling to survive, and workers facing significant job losses and income reductions. The industry is gradually recovering from the initial shock, but it may take time to fully regain its pre-pandemic level of activity.
How does Covid-19 at a high-risk situation for RMG sector of Bangladeshnaimulhudatanzim
The document discusses the impact of the Covid-19 pandemic on Bangladesh's ready-made garment (RMG) sector, which is the country's largest export industry and a major driver of economic growth. It provides statistics showing declines in export growth for woven and knit products during the pandemic. Over 1 million garment workers lost their jobs or were furloughed as factories canceled orders or buyers refused to pay for canceled orders. The literature review discusses previous research finding significant negative consequences for the RMG sector and overall economy from the pandemic, including wage cuts, job losses, and health issues for workers.
Covid-19 and decline in export of Readymade Garments in BangladeshIftakharShanto
This document summarizes an assignment on the impact of COVID-19 on Bangladesh's ready-made garment exports. It discusses how the pandemic led to canceled orders worth billions of dollars and job losses of millions of workers. Specifically, it notes that by April 2020, order cancellations amounted to $3.16 billion and 979 million canceled pieces, impacting over 2 million workers. The pandemic caused Bangladesh's GDP growth projection to decline significantly and posed risks of economic recession. The garment industry, which accounts for over 80% of exports, faced major obstacles from worldwide lockdowns and falling global demand.
The document discusses the impact of the COVID-19 pandemic on ready-made garment (RMG) workers in Bangladesh. It notes that the RMG industry employs around 4 million workers in Bangladesh and has been severely impacted by the pandemic. Factory closures led to around 55% of RMG workers losing their jobs. This had significant socioeconomic consequences as most RMG workers are low-income and support families in rural areas. The pandemic also exposed the difficult and unsafe working conditions that RMG workers face. The document examines the issue from various perspectives including health, employment, livelihoods, and socioeconomic factors.
The document discusses the impact of the COVID-19 pandemic on ready-made garment (RMG) workers in Bangladesh. It notes that the RMG industry employs around 4 million workers and had been severely impacted by factory closures during lockdowns. This led to around 55% of RMG workers losing their jobs and 10 million workers returning home from Dhaka as they could no longer support themselves without work. The pandemic exacerbated existing poor working conditions and low wages for RMG workers. It also increased the risk of health issues, food insecurity, domestic violence, and long-term psychological impacts for these vulnerable workers.
Impact of covid 19 on the rmg export scenario of bangladeshMosaibur Rahman
The study has made on descriptive research, is conducted to identify different dimension of Impact of Covid-19 on the RMG export scenario of Bangladesh. To come up with the result, researchers were not required to visit the factory. For this reason, researchers have ignored the direct data collection and surveys. Consequently, the research technique has relied based on information from secondary sources. Those data collected through Journals, Research articles, Thesis papers, newspapers case studies, online news paper and survey reports, garments Manufacturing Industries Annual reports, BGMEA Yearly report and Files. The data was collected basically through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information.
Impact of covid-19 on garment sector in bangladeshKhademulIslam15
The document discusses the impact of the COVID-19 pandemic on Bangladesh's garment sector. It notes that the garment industry is a key contributor to Bangladesh's economy, accounting for over 80% of exports and 20% of GDP. However, the pandemic has severely impacted the sector through cancelled orders and declining revenues. This has led to widespread job losses, with over one-third of garment workers estimated to have lost their jobs. The economic fallout from troubles in the garment industry poses major challenges for Bangladesh and risks exacerbating unemployment and poverty in the country.
How are factory owners coping with the covid 19 effect on cancellation of RMG...Ashik Nobi
The study has made on descriptive research, is conducted to identify how are factory owners coping with the Covid-19 effect on cancellation of RMG export. To come up with the result, researchers were not required to visit the factory. For this reason,
researchers have ignored the direct data collection and surveys. Consequently, the
research technique has relied based on information from secondary sources. Those
data collected through Journals, Research articles, Thesis papers, newspapers case
studies, online news paper and survey reports, garments Manufacturing Industries
Annual reports, BGMEA Yearly report and Files. The data was collected basically
through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information
How does Covid-19 at a high-risk situation for RMG sector of Bangladeshnaimulhudatanzim
The document discusses the impact of the Covid-19 pandemic on Bangladesh's ready-made garment (RMG) sector, which is the country's largest export industry and a major driver of economic growth. It provides statistics showing declines in export growth for woven and knit products during the pandemic. Over 1 million garment workers lost their jobs or were furloughed as factories canceled orders or buyers refused to pay for canceled orders. The literature review discusses previous research finding significant negative consequences for the RMG sector and overall economy from the pandemic, including wage cuts, job losses, and health issues for workers.
Covid-19 and decline in export of Readymade Garments in BangladeshIftakharShanto
This document summarizes an assignment on the impact of COVID-19 on Bangladesh's ready-made garment exports. It discusses how the pandemic led to canceled orders worth billions of dollars and job losses of millions of workers. Specifically, it notes that by April 2020, order cancellations amounted to $3.16 billion and 979 million canceled pieces, impacting over 2 million workers. The pandemic caused Bangladesh's GDP growth projection to decline significantly and posed risks of economic recession. The garment industry, which accounts for over 80% of exports, faced major obstacles from worldwide lockdowns and falling global demand.
The document discusses the impact of the COVID-19 pandemic on ready-made garment (RMG) workers in Bangladesh. It notes that the RMG industry employs around 4 million workers in Bangladesh and has been severely impacted by the pandemic. Factory closures led to around 55% of RMG workers losing their jobs. This had significant socioeconomic consequences as most RMG workers are low-income and support families in rural areas. The pandemic also exposed the difficult and unsafe working conditions that RMG workers face. The document examines the issue from various perspectives including health, employment, livelihoods, and socioeconomic factors.
The document discusses the impact of the COVID-19 pandemic on ready-made garment (RMG) workers in Bangladesh. It notes that the RMG industry employs around 4 million workers and had been severely impacted by factory closures during lockdowns. This led to around 55% of RMG workers losing their jobs and 10 million workers returning home from Dhaka as they could no longer support themselves without work. The pandemic exacerbated existing poor working conditions and low wages for RMG workers. It also increased the risk of health issues, food insecurity, domestic violence, and long-term psychological impacts for these vulnerable workers.
Impact of covid 19 on the rmg export scenario of bangladeshMosaibur Rahman
The study has made on descriptive research, is conducted to identify different dimension of Impact of Covid-19 on the RMG export scenario of Bangladesh. To come up with the result, researchers were not required to visit the factory. For this reason, researchers have ignored the direct data collection and surveys. Consequently, the research technique has relied based on information from secondary sources. Those data collected through Journals, Research articles, Thesis papers, newspapers case studies, online news paper and survey reports, garments Manufacturing Industries Annual reports, BGMEA Yearly report and Files. The data was collected basically through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information.
Impact of covid-19 on garment sector in bangladeshKhademulIslam15
The document discusses the impact of the COVID-19 pandemic on Bangladesh's garment sector. It notes that the garment industry is a key contributor to Bangladesh's economy, accounting for over 80% of exports and 20% of GDP. However, the pandemic has severely impacted the sector through cancelled orders and declining revenues. This has led to widespread job losses, with over one-third of garment workers estimated to have lost their jobs. The economic fallout from troubles in the garment industry poses major challenges for Bangladesh and risks exacerbating unemployment and poverty in the country.
How are factory owners coping with the covid 19 effect on cancellation of RMG...Ashik Nobi
The study has made on descriptive research, is conducted to identify how are factory owners coping with the Covid-19 effect on cancellation of RMG export. To come up with the result, researchers were not required to visit the factory. For this reason,
researchers have ignored the direct data collection and surveys. Consequently, the
research technique has relied based on information from secondary sources. Those
data collected through Journals, Research articles, Thesis papers, newspapers case
studies, online news paper and survey reports, garments Manufacturing Industries
Annual reports, BGMEA Yearly report and Files. The data was collected basically
through skimming ad scanning out the findings of different secondary source. After the completion of the data collection descriptive analyses was used illustrate the data. This study did not use any unethical means to collect information
The COVID-19 pandemic has undermined the progress made on sustainable development. It poses a significant challenge to the full implementation of the 2030 Agenda as there has been a rise in extreme poverty, inequalities and injustice across the globe.
Pandemic recession and employment crisisM S Siddiqui
The policy of Bangladesh Bank and attitude of commercial banks have many challenges to overcome regarding these programmes. They require a change in mind-set and political will to recognize the crisis and probable solution. There should a recognition that informal workers and their livelihood activities represent the broad base of the economy producing essential goods and services not only for low-income customers but also for the general public and for the formal economy.
The COVID-19 pandemic has severely impacted Bangladesh's economy, especially the critical readymade garment (RMG) industry. Exports from the RMG sector declined by nearly 17% in 2020 due to canceled orders from major importing countries in Europe and America. Millions of RMG workers lost their jobs or were furloughed as factories closed during lockdowns. While garment exports rebounded somewhat in mid-2020, the long-term impacts of the pandemic on the RMG industry and Bangladesh's economy remain uncertain. The study recommends government assistance and policy responses to mitigate damage to the RMG sector and prevent broader economic and social crises.
The COVID-19 pandemic had a significant negative impact on jobs globally, creating the highest unemployment ever recorded. In India, close to 10.9 million jobs were lost in 2020 across sectors such as aviation, hospitality, and travel due to lockdowns. However, some sectors like healthcare and education saw new jobs created. While recruitment increased in the second half of 2020, the job market remained volatile and online job postings declined over 50% in many countries. Younger workers and those with lower educational levels were impacted more severely. Demand increased for frontline healthcare workers but declined sharply for sectors like leisure and hospitality that were shut down.
After a sluggish recovery in 2021 pressured by the outbreak of the Delta variant, CLMV economies are expected to see a stronger recovery in 2022 supported by higher vaccination rates, resilient exports, and a gradual return of international tourists.
On the domestic front, higher vaccination rates have allowed authorities to relax lockdown measures, supporting a gradual domestic demand recovery. Officially confirmed COVID-19 cases have plummeted in Cambodia and Myanmar, while Laos and Vietnam have seen steady declines. Recent COVID-19 restrictions have been less stringent than in the past as CLMV economies adapt to living with COVID-19 and resort to partial lockdowns instead of nationwide lockdowns. Additional fiscal stimulus is expected to shore up domestic demand in Cambodia and Vietnam due to their adequate fiscal space, whereas Laos and Myanmar’s space for fiscal stimulus are more limited. Nonetheless, scarring effects from the pandemic would remain a drag on economic activity particularly through elevated unemployment rates and weakening household incomes.
On the external front, continued global economic growth and border reopening should underpin external demand recovery, supporting exports and foreign investment. CLMV exports are expected to see continued growth in 2022, albeit at a slower pace than 2021, as global demand for goods remains resilient especially for electronics and work-from-home products related to new lifestyles. With a lower economic uncertainty, FDI inflows should gradually return to the region aided by easing border restrictions and shortened quarantine requirements. Foreign trade and investment into the region would also benefit from RCEP which became effective in January. Despite that, the Omicron outbreak remains uncertain, and a prolonged spread would pose downside risks for external demand through possible supply chain disruptions.
Border reopening would also allow tourists to return gradually, with stronger growth expected in the second half of 2022 as Omicron concerns abate. However, Chinese tourists, which constitute a dominant share of international tourism in the region, are still barred by tight border restrictions. With China’s Zero-Covid policy and high transmissibility of the Omicron variant, EIC believes China’s border reopening for international tourism will be delayed to late-2022 or may be put off until 2023.
Factors to watch for CLMV economies in 2022 include 1) the Omicron variant or other emerging variants and risks of additional outbreaks, 2) vaccination progress and plans to ease border and mobility restrictions, and 3) fiscal and financial stability, particularly in Laos and Myanmar, amid higher public debt burden and monetary tightening in developed economies. Country-specific factors are also important to monitor, including the political situation in Myanmar and the recent opening of the Boten-Vientiane railway in Laos.
Covid-19 and decline in exports of ready-made garments of BangladeshRakin Khondokar
The ready-made garment industry is critical to Bangladesh's economy but exports declined due to COVID-19. Garment exports decreased from $34.1 billion in 2018-19 to $27.9 billion in 2019-20 as the pandemic caused factory closures and order cancellations. While knit exports recovered by 2020-21, woven exports remained below pre-pandemic levels. The decline impacted the 4.1 million garment workers in Bangladesh through job and wage losses. Factories have since implemented health and safety measures to resume operations amid the ongoing challenges of the pandemic.
This document summarizes a research article that examines the effects of COVID-19 on digital marketing, customer relationship management (CRM), and business performance. It finds that the COVID-19 pandemic has negatively impacted business performance but that this can be mitigated by adopting digital marketing strategies and building strong CRM. It proposes that digital marketing and CRM can help improve business performance during the pandemic by allowing businesses to better reach and engage customers online. The conceptual study is based on previous empirical research showing the relationship between these variables.
The presentation summarizes the impact of the COVID-19 pandemic on businesses globally. It led to an unprecedented shock worldwide, stopping global progress. There were massive revenue losses, business closures, layoffs and liquidity issues. The negative impact on sales was large and persistent across firms. Most businesses adjusted employment through reducing hours and wages rather than layoffs. There was significant heterogeneity in the effects across countries, with smaller firms facing more financial constraints.
This Research Aims To Assess The Effect Of The Covid-19 Health Crisis On The Indebtedness Of
Family SMEs In Chad. The Sample Of This Study Consists Of 150 Managers Of Family SMEs. We Used A
Qualitative Method Complemented By A Quantitative Method Based On Linear Regression
The document provides a weekly media update comprising news related to Balmer Lawrie and PSEs, as well as news from the industries that Balmer Lawrie operates in. It mentions that Balmer Lawrie's travel, tourism and logistics businesses have been badly hit by the lockdown, contributing 40% of annual revenue and 60% of profits previously. Several reports outline projections of a significant contraction in India's GDP for the fiscal year 2021, as well as forecasts of economic decline for other Asian countries due to the impact of the pandemic.
Economic impact of COVID-19 lock down on small medium enterprise (smes) in la...SubmissionResearchpa
The effect of COVID-19 has negative consequence which has been an invisible enemy raging the entire world populace leading to a global economic crisis. Business across the globe are feeling the negative outcome of the COVID 19 pandemic threatening their ongoing economic daily activities. SMEs in Nigeria are not left out in the share of this negative pandemic, limiting their survival existence. The shutdown of economic activities has greatly affected SMEs in Nigeria. This has led to employees under SMEs lose their jobs. It was concluded that adequate measures needs to be taken by government to cushion the negative effect of COVID 19 in collapsing the existence of SMEs. by Aribisala, and Oluwadamilare Olufolarin 2020. Economic impact of COVID-19 lock down on small medium enterprise (smes) in lagos state. International Journal on Integrated Education. 3, 7 (Jul. 2020), 62-68. DOI:https://doi.org/10.31149/ijie.v3i7.490. https://journals.researchparks.org/index.php/IJIE/article/view/490/467 https://journals.researchparks.org/index.php/IJIE/article/view/490
The document discusses the economic impact of COVID-19 on Bangladesh. It notes that Bangladesh relies heavily on exports such as ready-made garments and remittances from workers abroad. COVID-19 has severely impacted these sectors and the overall economy. Garment exports declined by nearly 17% in 2020, falling short of targets. The government is recommended to provide assistance to the garment industry to help stabilize the economy as it is a major employer and source of income.
This document summarizes a research article that examines the impact of the COVID-19 pandemic on human resource operations in the Malaysian retail sector. The study found that COVID-19 has significantly increased job depression and anxiety among retail employees. It also found direct relationships between COVID-19 and reduced salaries as well as increased layoffs. Additionally, the study found indirect or partial mediation relationships between COVID-19, job depression, job anxiety, salaries, and layoffs. The findings provide insights for how retailers should adjust their HR policies in the "new normal" pandemic situation.
The Impact of Covid 19 Pandemic on Small and Medium Scale Enterprises’ SMEs P...YogeshIJTSRD
The objective of this study is threefold to investigate the performance of SMEs prior the cases of COVID 19 in Yobe State to examine the performance of SMEs during COVID 19 in Yobe State and to suggest measures for the resilience of the SMEs’ performance after the COVID 19 in Yobe State. The study adopted a survey research design and the sample size was 301 respondents which were selected through multi stage cluster sampling in which the State will be divided into three clusters, based on senatorial districts Zone A, Zone B, and Zone C . Simple random sampling technique was adopted to select the sample. The instruments of data collection were questionnaire and one focus group discussion FGD , thus mixed method quantitative and qualitative was employed to analyse the data for the questionnaire and the FGD, respectively. The study found out that COVID 19 has negatively affected the performance of SMEs in Yobe State. For example, many businesses have demised in Yobe State due to the closure of workplaces many SMEs have stopped operating for many months. The study concluded that SMEs have been performing greatly and they were important to the Yobe State economy before COVID 19 in State Yobe, but the incidence of the COVID 19 has brought setback to the commercial activities in the State. COVID 19 affected the performance of SMEs through closure of all firms, including SMEs due to total lockdown SMEs owners also experienced distraction and widespread panic due to the epidemic lack of raw materials because of less movement of goods and services during the pandemic. There was also the death of some owners of the SMEs especially the old ones, and expiration of some products due to lock down, and downfall of some merchants that operate SMEs in Yobe State. The study therefore recommended that government and development partners should provide soft loans and free grants for affected indigenous SMEs to get resuscitated deliberate effort at making the SMEs very strong to resist the ripple effect of the COVID 19 and save the SMEs from collapsing by operating during all forms of pandemics through online marketing. Jamaluddeen Abubakar Usman "The Impact of Covid-19 Pandemic on Small and Medium Scale Enterprises’ (SMEs) Performance in Yobe State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-3 , April 2021, URL: https://www.ijtsrd.com/papers/ijtsrd40019.pdf Paper URL: https://www.ijtsrd.com/management/other/40019/the-impact-of-covid19-pandemic-on-small-and-medium-scale-enterprises’-smes-performance-in-yobe-state/jamaluddeen-abubakar-usman
Self Reliant India Need, Pre and Post Pandemic scenarioJyotsna Prasad
This is a research paper about How India was before the covid 19 pandemic and how it would be after this ends. Where India Should be utilising its finances and how it should be managed to achieve the best.
The COVID-19 pandemic has given the biggest blow to the world economy after the great depression
1930s.Around 60% of the world population is either under severe or partial lockdown without having medical
solution to the coronavirus and affected the industrial sector severely.The impact is severe on
trade,manufacturing and MSMEs.Manufacturing sector may shrink from 5.5%to 20%,exports from 13.7% to
20.8%,imports from 17.3% to25%and MSMEs net value added (NVA) from 2.1%to5.7% in 2020
Rmg sector and it's Socio-Economic impact in BangladeshMahbub Alam Rabbe
The RMG (ready-made garments) sector has had significant socio-economic impacts in Bangladesh. It contributes over 80% of total export earnings and 10.5% of GDP. The sector employs over 4.5 million workers, most of whom are women. It has empowered women, increased savings, reduced child labor, and helped control population growth. Moving forward, the sector aims to build brand recognition, expand into new markets, and prepare for upcoming automation.
In January 2021, several key economic indicators showed signs of recovery from the impacts of the Covid-19 pandemic:
- Industrial production in Spain decreased 9.1% in 2020 but some sectors showed less contraction.
- Over 1.3 million credit moratoriums were granted in Spain for over €54.1 billion in mortgages, consumer loans, and sector credits.
- Consumer confidence in Spain declined slightly but remained at low levels similar to 2012-2013.
- Germany's trade balance stabilized with a small increase in exports and decrease in imports.
- In the US, 49,000 jobs were added in January, though mainly in the public sector, with unemployment falling to 6.3%.
The impact of covid-19 in Bangladesh a case study on economic sectorShaksly Snail
The impact of covid-19 in Bangladesh a case study on economic sector
Our Team~
Leader
Shakila Ahmed
Members
Mahfuja Alam, Fatema Tuz Zohora, Juma Akter
Supervisor ~
Ashiqun Nabi
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Manarat International University
The document is a magazine issue from February 2023 that includes articles on fashion trends, product development guidelines, and information about BGMEA University of Fashion & Technology. It features an article on developing a t-shirt that outlines the process from research and design concept to technical specifications, fabric selection, photoshoot, and cost sheet. Additionally, it introduces a new t-shirt product with a focus on comfort, style, versatility, and eye-catching design.
Crude oil and gas are two of the most important natural resources in the world. Crude oil is a mixture of hydrocarbons that are found beneath the Earth's surface, while gas is mainly composed of methane, but also contains other hydrocarbons. Both crude oil and gas are used as energy sources and are essential for various industrial processes.
Crude oil is refined into a range of products, including gasoline, diesel fuel, jet fuel, heating oil, and lubricants. It is also used in the production of plastics, chemicals, and other materials. The demand for crude oil is driven by global economic growth, transportation needs, and various industries.
Gas is also a significant source of energy and is primarily used for heating and electricity generation. It is also used in manufacturing and transportation, and as a feedstock for the production of chemicals and fertilizers.
The exploration, production, and distribution of crude oil and gas are complex processes that involve advanced technologies and significant investments. The industry is subject to various geopolitical and economic factors that can affect prices and supply.
There are also concerns about the environmental impact of the extraction and use of crude oil and gas, including air and water pollution and greenhouse gas emissions. The development of renewable energy sources and the adoption of cleaner technologies are essential for reducing the dependence on fossil fuels and mitigating their environmental impact.
Overall, crude oil and gas play a crucial role in the global economy and will continue to be significant sources of energy and materials for many years to come. However, their use must be balanced with efforts to address environmental concerns and develop sustainable alternatives.
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The COVID-19 pandemic has undermined the progress made on sustainable development. It poses a significant challenge to the full implementation of the 2030 Agenda as there has been a rise in extreme poverty, inequalities and injustice across the globe.
Pandemic recession and employment crisisM S Siddiqui
The policy of Bangladesh Bank and attitude of commercial banks have many challenges to overcome regarding these programmes. They require a change in mind-set and political will to recognize the crisis and probable solution. There should a recognition that informal workers and their livelihood activities represent the broad base of the economy producing essential goods and services not only for low-income customers but also for the general public and for the formal economy.
The COVID-19 pandemic has severely impacted Bangladesh's economy, especially the critical readymade garment (RMG) industry. Exports from the RMG sector declined by nearly 17% in 2020 due to canceled orders from major importing countries in Europe and America. Millions of RMG workers lost their jobs or were furloughed as factories closed during lockdowns. While garment exports rebounded somewhat in mid-2020, the long-term impacts of the pandemic on the RMG industry and Bangladesh's economy remain uncertain. The study recommends government assistance and policy responses to mitigate damage to the RMG sector and prevent broader economic and social crises.
The COVID-19 pandemic had a significant negative impact on jobs globally, creating the highest unemployment ever recorded. In India, close to 10.9 million jobs were lost in 2020 across sectors such as aviation, hospitality, and travel due to lockdowns. However, some sectors like healthcare and education saw new jobs created. While recruitment increased in the second half of 2020, the job market remained volatile and online job postings declined over 50% in many countries. Younger workers and those with lower educational levels were impacted more severely. Demand increased for frontline healthcare workers but declined sharply for sectors like leisure and hospitality that were shut down.
After a sluggish recovery in 2021 pressured by the outbreak of the Delta variant, CLMV economies are expected to see a stronger recovery in 2022 supported by higher vaccination rates, resilient exports, and a gradual return of international tourists.
On the domestic front, higher vaccination rates have allowed authorities to relax lockdown measures, supporting a gradual domestic demand recovery. Officially confirmed COVID-19 cases have plummeted in Cambodia and Myanmar, while Laos and Vietnam have seen steady declines. Recent COVID-19 restrictions have been less stringent than in the past as CLMV economies adapt to living with COVID-19 and resort to partial lockdowns instead of nationwide lockdowns. Additional fiscal stimulus is expected to shore up domestic demand in Cambodia and Vietnam due to their adequate fiscal space, whereas Laos and Myanmar’s space for fiscal stimulus are more limited. Nonetheless, scarring effects from the pandemic would remain a drag on economic activity particularly through elevated unemployment rates and weakening household incomes.
On the external front, continued global economic growth and border reopening should underpin external demand recovery, supporting exports and foreign investment. CLMV exports are expected to see continued growth in 2022, albeit at a slower pace than 2021, as global demand for goods remains resilient especially for electronics and work-from-home products related to new lifestyles. With a lower economic uncertainty, FDI inflows should gradually return to the region aided by easing border restrictions and shortened quarantine requirements. Foreign trade and investment into the region would also benefit from RCEP which became effective in January. Despite that, the Omicron outbreak remains uncertain, and a prolonged spread would pose downside risks for external demand through possible supply chain disruptions.
Border reopening would also allow tourists to return gradually, with stronger growth expected in the second half of 2022 as Omicron concerns abate. However, Chinese tourists, which constitute a dominant share of international tourism in the region, are still barred by tight border restrictions. With China’s Zero-Covid policy and high transmissibility of the Omicron variant, EIC believes China’s border reopening for international tourism will be delayed to late-2022 or may be put off until 2023.
Factors to watch for CLMV economies in 2022 include 1) the Omicron variant or other emerging variants and risks of additional outbreaks, 2) vaccination progress and plans to ease border and mobility restrictions, and 3) fiscal and financial stability, particularly in Laos and Myanmar, amid higher public debt burden and monetary tightening in developed economies. Country-specific factors are also important to monitor, including the political situation in Myanmar and the recent opening of the Boten-Vientiane railway in Laos.
Covid-19 and decline in exports of ready-made garments of BangladeshRakin Khondokar
The ready-made garment industry is critical to Bangladesh's economy but exports declined due to COVID-19. Garment exports decreased from $34.1 billion in 2018-19 to $27.9 billion in 2019-20 as the pandemic caused factory closures and order cancellations. While knit exports recovered by 2020-21, woven exports remained below pre-pandemic levels. The decline impacted the 4.1 million garment workers in Bangladesh through job and wage losses. Factories have since implemented health and safety measures to resume operations amid the ongoing challenges of the pandemic.
This document summarizes a research article that examines the effects of COVID-19 on digital marketing, customer relationship management (CRM), and business performance. It finds that the COVID-19 pandemic has negatively impacted business performance but that this can be mitigated by adopting digital marketing strategies and building strong CRM. It proposes that digital marketing and CRM can help improve business performance during the pandemic by allowing businesses to better reach and engage customers online. The conceptual study is based on previous empirical research showing the relationship between these variables.
The presentation summarizes the impact of the COVID-19 pandemic on businesses globally. It led to an unprecedented shock worldwide, stopping global progress. There were massive revenue losses, business closures, layoffs and liquidity issues. The negative impact on sales was large and persistent across firms. Most businesses adjusted employment through reducing hours and wages rather than layoffs. There was significant heterogeneity in the effects across countries, with smaller firms facing more financial constraints.
This Research Aims To Assess The Effect Of The Covid-19 Health Crisis On The Indebtedness Of
Family SMEs In Chad. The Sample Of This Study Consists Of 150 Managers Of Family SMEs. We Used A
Qualitative Method Complemented By A Quantitative Method Based On Linear Regression
The document provides a weekly media update comprising news related to Balmer Lawrie and PSEs, as well as news from the industries that Balmer Lawrie operates in. It mentions that Balmer Lawrie's travel, tourism and logistics businesses have been badly hit by the lockdown, contributing 40% of annual revenue and 60% of profits previously. Several reports outline projections of a significant contraction in India's GDP for the fiscal year 2021, as well as forecasts of economic decline for other Asian countries due to the impact of the pandemic.
Economic impact of COVID-19 lock down on small medium enterprise (smes) in la...SubmissionResearchpa
The effect of COVID-19 has negative consequence which has been an invisible enemy raging the entire world populace leading to a global economic crisis. Business across the globe are feeling the negative outcome of the COVID 19 pandemic threatening their ongoing economic daily activities. SMEs in Nigeria are not left out in the share of this negative pandemic, limiting their survival existence. The shutdown of economic activities has greatly affected SMEs in Nigeria. This has led to employees under SMEs lose their jobs. It was concluded that adequate measures needs to be taken by government to cushion the negative effect of COVID 19 in collapsing the existence of SMEs. by Aribisala, and Oluwadamilare Olufolarin 2020. Economic impact of COVID-19 lock down on small medium enterprise (smes) in lagos state. International Journal on Integrated Education. 3, 7 (Jul. 2020), 62-68. DOI:https://doi.org/10.31149/ijie.v3i7.490. https://journals.researchparks.org/index.php/IJIE/article/view/490/467 https://journals.researchparks.org/index.php/IJIE/article/view/490
The document discusses the economic impact of COVID-19 on Bangladesh. It notes that Bangladesh relies heavily on exports such as ready-made garments and remittances from workers abroad. COVID-19 has severely impacted these sectors and the overall economy. Garment exports declined by nearly 17% in 2020, falling short of targets. The government is recommended to provide assistance to the garment industry to help stabilize the economy as it is a major employer and source of income.
This document summarizes a research article that examines the impact of the COVID-19 pandemic on human resource operations in the Malaysian retail sector. The study found that COVID-19 has significantly increased job depression and anxiety among retail employees. It also found direct relationships between COVID-19 and reduced salaries as well as increased layoffs. Additionally, the study found indirect or partial mediation relationships between COVID-19, job depression, job anxiety, salaries, and layoffs. The findings provide insights for how retailers should adjust their HR policies in the "new normal" pandemic situation.
The Impact of Covid 19 Pandemic on Small and Medium Scale Enterprises’ SMEs P...YogeshIJTSRD
The objective of this study is threefold to investigate the performance of SMEs prior the cases of COVID 19 in Yobe State to examine the performance of SMEs during COVID 19 in Yobe State and to suggest measures for the resilience of the SMEs’ performance after the COVID 19 in Yobe State. The study adopted a survey research design and the sample size was 301 respondents which were selected through multi stage cluster sampling in which the State will be divided into three clusters, based on senatorial districts Zone A, Zone B, and Zone C . Simple random sampling technique was adopted to select the sample. The instruments of data collection were questionnaire and one focus group discussion FGD , thus mixed method quantitative and qualitative was employed to analyse the data for the questionnaire and the FGD, respectively. The study found out that COVID 19 has negatively affected the performance of SMEs in Yobe State. For example, many businesses have demised in Yobe State due to the closure of workplaces many SMEs have stopped operating for many months. The study concluded that SMEs have been performing greatly and they were important to the Yobe State economy before COVID 19 in State Yobe, but the incidence of the COVID 19 has brought setback to the commercial activities in the State. COVID 19 affected the performance of SMEs through closure of all firms, including SMEs due to total lockdown SMEs owners also experienced distraction and widespread panic due to the epidemic lack of raw materials because of less movement of goods and services during the pandemic. There was also the death of some owners of the SMEs especially the old ones, and expiration of some products due to lock down, and downfall of some merchants that operate SMEs in Yobe State. The study therefore recommended that government and development partners should provide soft loans and free grants for affected indigenous SMEs to get resuscitated deliberate effort at making the SMEs very strong to resist the ripple effect of the COVID 19 and save the SMEs from collapsing by operating during all forms of pandemics through online marketing. Jamaluddeen Abubakar Usman "The Impact of Covid-19 Pandemic on Small and Medium Scale Enterprises’ (SMEs) Performance in Yobe State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-3 , April 2021, URL: https://www.ijtsrd.com/papers/ijtsrd40019.pdf Paper URL: https://www.ijtsrd.com/management/other/40019/the-impact-of-covid19-pandemic-on-small-and-medium-scale-enterprises’-smes-performance-in-yobe-state/jamaluddeen-abubakar-usman
Self Reliant India Need, Pre and Post Pandemic scenarioJyotsna Prasad
This is a research paper about How India was before the covid 19 pandemic and how it would be after this ends. Where India Should be utilising its finances and how it should be managed to achieve the best.
The COVID-19 pandemic has given the biggest blow to the world economy after the great depression
1930s.Around 60% of the world population is either under severe or partial lockdown without having medical
solution to the coronavirus and affected the industrial sector severely.The impact is severe on
trade,manufacturing and MSMEs.Manufacturing sector may shrink from 5.5%to 20%,exports from 13.7% to
20.8%,imports from 17.3% to25%and MSMEs net value added (NVA) from 2.1%to5.7% in 2020
Rmg sector and it's Socio-Economic impact in BangladeshMahbub Alam Rabbe
The RMG (ready-made garments) sector has had significant socio-economic impacts in Bangladesh. It contributes over 80% of total export earnings and 10.5% of GDP. The sector employs over 4.5 million workers, most of whom are women. It has empowered women, increased savings, reduced child labor, and helped control population growth. Moving forward, the sector aims to build brand recognition, expand into new markets, and prepare for upcoming automation.
In January 2021, several key economic indicators showed signs of recovery from the impacts of the Covid-19 pandemic:
- Industrial production in Spain decreased 9.1% in 2020 but some sectors showed less contraction.
- Over 1.3 million credit moratoriums were granted in Spain for over €54.1 billion in mortgages, consumer loans, and sector credits.
- Consumer confidence in Spain declined slightly but remained at low levels similar to 2012-2013.
- Germany's trade balance stabilized with a small increase in exports and decrease in imports.
- In the US, 49,000 jobs were added in January, though mainly in the public sector, with unemployment falling to 6.3%.
The impact of covid-19 in Bangladesh a case study on economic sectorShaksly Snail
The impact of covid-19 in Bangladesh a case study on economic sector
Our Team~
Leader
Shakila Ahmed
Members
Mahfuja Alam, Fatema Tuz Zohora, Juma Akter
Supervisor ~
Ashiqun Nabi
Assistant Professor, Department of
Business Administration
Manarat International University
The document is a magazine issue from February 2023 that includes articles on fashion trends, product development guidelines, and information about BGMEA University of Fashion & Technology. It features an article on developing a t-shirt that outlines the process from research and design concept to technical specifications, fabric selection, photoshoot, and cost sheet. Additionally, it introduces a new t-shirt product with a focus on comfort, style, versatility, and eye-catching design.
Crude oil and gas are two of the most important natural resources in the world. Crude oil is a mixture of hydrocarbons that are found beneath the Earth's surface, while gas is mainly composed of methane, but also contains other hydrocarbons. Both crude oil and gas are used as energy sources and are essential for various industrial processes.
Crude oil is refined into a range of products, including gasoline, diesel fuel, jet fuel, heating oil, and lubricants. It is also used in the production of plastics, chemicals, and other materials. The demand for crude oil is driven by global economic growth, transportation needs, and various industries.
Gas is also a significant source of energy and is primarily used for heating and electricity generation. It is also used in manufacturing and transportation, and as a feedstock for the production of chemicals and fertilizers.
The exploration, production, and distribution of crude oil and gas are complex processes that involve advanced technologies and significant investments. The industry is subject to various geopolitical and economic factors that can affect prices and supply.
There are also concerns about the environmental impact of the extraction and use of crude oil and gas, including air and water pollution and greenhouse gas emissions. The development of renewable energy sources and the adoption of cleaner technologies are essential for reducing the dependence on fossil fuels and mitigating their environmental impact.
Overall, crude oil and gas play a crucial role in the global economy and will continue to be significant sources of energy and materials for many years to come. However, their use must be balanced with efforts to address environmental concerns and develop sustainable alternatives.
WGSN (formerly known as Worth Global Style Network) is a trend forecasting and analysis company that provides insights and intelligence to the fashion, beauty, and lifestyle industries. Founded in 1998, WGSN has become one of the most influential trend forecasting companies in the world.
WGSN employs a team of trend analysts, editors, and designers who research and analyze global trends in fashion, design, beauty, retail, and technology. They provide their clients with reports, forecasts, and insights on upcoming trends, helping them to make informed decisions about product development, marketing strategies, and branding.
WGSN offers a range of services to its clients, including trend reports, online trend forecasting tools, bespoke trend consulting, and industry events. Their clients include retailers, brands, designers, manufacturers, and universities.
WGSN has been recognized for its contributions to the fashion and design industries, winning numerous awards over the years, including the Queen's Award for Enterprise in International Trade in 2006 and the Drapers Digital Award for Best Use of Innovation in 2016.
Overall, WGSN is a valuable resource for businesses and individuals in the fashion and design industries, providing them with the insights and intelligence they need to stay ahead of the curve and succeed in a rapidly changing market.
Smart textiles, also known as intelligent textiles or e-textiles, are materials that have been developed with new technologies to include additional functionalities. These textiles can sense, react, and adapt to environmental conditions or stimuli such as temperature, light, or pressure.
The advancements in nanotechnology, material science, and electronics have enabled the development of smart textiles that can perform a range of functions, including energy harvesting, communication, and health monitoring. Some examples of smart textiles include temperature-regulating fabrics, light-emitting fabrics, and clothing with embedded sensors that can monitor vital signs.
Smart textiles have numerous potential applications, including medical monitoring, sports and fitness, military and defense, and fashion. They can improve comfort, safety, and performance in various settings, and they have the potential to revolutionize the way we interact with clothing and other textiles.
However, there are still some challenges to overcome in the development and commercialization of smart textiles, including cost, durability, and compatibility with existing manufacturing processes. Despite these challenges, the field of smart textiles is rapidly advancing, and we can expect to see more innovative and exciting products in the near future.
Knit composite refers to the process of producing knitted fabrics, which are commonly used in garments such as T-shirts, sportswear, and casual wear. Woven composite, on the other hand, involves producing woven fabrics, which are commonly used in garments such as dress shirts, pants, and formal wear.
In recent years, the knit composite industry has been growing rapidly in Bangladesh and has overtaken the woven composite industry in terms of production capacity and export volume. One of the primary reasons for this is the lower investment cost required to set up a knit composite factory compared to a woven composite factory.
Knit composite factories require fewer machines and have a simpler production process than woven composite factories, making it more accessible for smaller entrepreneurs to enter the market. Additionally, the knit composite industry is more labour-intensive, providing employment opportunities to a larger number of people.
The rapid growth of the knit composite industry in Bangladesh has also been driven by the increasing demand for knitwear products globally. Knitwear has become increasingly popular in the fashion industry due to its versatility, comfort, and affordability.
However, despite the growth and potential of the knit composite industry, it also faces several challenges. One of the most significant challenges is the lack of skilled labour in the sector. Many workers in the knit composite industry have limited training and education, which can impact the quality of the products produced.
Another challenge is the increasing competition from other countries such as Vietnam, Cambodia, and China, which are also major players in the global textile and apparel industry.
In contrast, the woven composite industry faces a different set of challenges. Woven fabrics require more complex production processes, machinery, and skilled labour, resulting in higher investment costs. Moreover, woven composite products are generally priced higher in the global market, making it more challenging to compete with low-cost producers.
Knit composite refers to the process of producing knitted fabrics, which are commonly used in garments such as T-shirts, sportswear, and casual wear. Woven composite, on the other hand, involves producing woven fabrics, which are commonly used in garments such as dress shirts, pants, and formal wear.
In recent years, the knit composite industry has been growing rapidly in Bangladesh and has overtaken the woven composite industry in terms of production capacity and export volume. One of the primary reasons for this is the lower investment cost required to set up a knit composite factory compared to a woven composite factory.
Globalisation has had a profound impact on the world in various aspects, including the economy, culture, politics, and the environment. The term refers to the increasing interconnectedness and interdependence of nations and people across the globe.
One of the most significant impacts of globalisation is the growth of international trade and investment, which has led to increased economic growth and development in many parts of the world. Globalisation has allowed companies to expand their markets and production capacity, benefiting both the companies and the consumers who have access to a broader range of products and services.
However, globalisation has also led to some negative impacts on the economy. One of the most notable effects is the outsourcing of jobs to countries with lower labor costs, leading to job losses and wage stagnation in some developed countries. Additionally, globalisation has increased income inequality, as the benefits of economic growth have not been distributed equally.
Globalisation has also had a significant impact on culture. It has facilitated the spread of popular culture, including music, movies, and fashion, around the world. It has also facilitated the exchange of ideas and knowledge, leading to greater cultural diversity and understanding.
However, globalisation has also led to the homogenisation of culture, as local traditions and customs are replaced by global trends and values. Moreover, the spread of Western culture has sometimes been viewed as a threat to local cultures, leading to cultural clashes and tension.
Globalisation has also had an impact on politics. It has facilitated the growth of international organisations, such as the United Nations and the World Trade Organization, which aim to promote cooperation and collaboration between countries. It has also led to the emergence of transnational corporations, which have significant influence over the global economy and politics.
However, globalisation has also led to the loss of national sovereignty, as countries become increasingly reliant on international organisations and multinational corporations. Moreover, the concentration of power in the hands of a few wealthy individuals and corporations has led to the erosion of democracy and human rights.
In the garment industry, the use of computer-aided design (CAD) has revolutionized the way clothes are designed and manufactured. CAD software allows designers and manufacturers to create and edit digital designs, which can be translated into physical garments. This essay will explore the role of CAD in the garment industry, its benefits, and its impact on the industry.
CAD software is used in various stages of the garment production process, from design to production. In the design stage, CAD software allows designers to create digital sketches and make changes to the designs quickly. This eliminates the need for physical prototypes, which can be time-consuming and expensive. The software also allows designers to experiment with different fabrics, colors, and textures, giving them greater flexibility in the design process.
Once the design is finalized, CAD software can be used to create patterns and markers. Patterns are templates used to cut fabric to the correct size and shape, while markers are layouts of the patterns on a large piece of fabric, maximizing the use of the material. CAD software allows patterns and markers to be created quickly and accurately, reducing the likelihood of errors and minimizing waste.
CAD software also plays a crucial role in the production process. Once the patterns and markers are created, they can be sent to computer-controlled cutting machines, which can cut the fabric quickly and accurately. This not only saves time but also ensures consistency in the cutting process, resulting in garments that fit correctly.
The benefits of using CAD software in the garment industry are numerous. First and foremost, it reduces the time and cost involved in the design and production process. Digital designs can be created and modified quickly and easily, and patterns and markers can be created with greater accuracy, reducing the need for physical prototypes and minimizing waste. This can lead to lower production costs and faster turnaround times, enabling companies to bring new products to market more quickly.
CAD software also allows for greater creativity and flexibility in the design process. Designers can experiment with different fabrics, colors, and textures, without the need for physical prototypes. This allows for more innovative and unique designs, which can set companies apart in a crowded market.
Another benefit of using CAD software is that it allows for greater customization. With digital designs, it is possible to create garments that are tailored to individual customers' preferences, without the need for extensive manual work. This can lead to a more personalized customer experience, which can increase customer loyalty and satisfaction.
Sustainability in textile industry in Bangladesh.pptxMd. Nazmul Haque
The Reality of Sustainability in the Textile Industry
The textile industry is a significant contributor to environmental pollution, with a vast array of chemicals and dyes used in the production process. The industry is responsible for 20% of global wastewater production, and a significant portion of that wastewater is untreated and released back into waterways. The production of textiles also requires large quantities of water and energy, further depleting natural resources and contributing to climate change.
The textile industry is also known for its unethical labor practices, with workers in many countries paid very low wages and subjected to poor working conditions. This has led to calls for greater transparency and accountability in the industry, with consumers demanding to know more about the origins of the clothes they buy.
Challenges in Achieving Sustainability in the Textile Industry
There are several challenges to achieving sustainability in the textile industry. One of the most significant challenges is the complexity of the supply chain. The textile industry involves multiple stakeholders, from raw material suppliers to manufacturers, wholesalers, and retailers. It can be difficult to trace the origin of materials and ensure that they are produced ethically and sustainably. This complexity also makes it challenging to implement sustainability practices throughout the entire supply chain.
Another challenge is the cost of implementing sustainable practices. While sustainable practices may be more environmentally friendly and socially responsible, they can be more expensive to implement. This can make it difficult for smaller companies to compete with larger corporations that may have more resources to invest in sustainable practices.
Consumer awareness and behavior also play a significant role in achieving sustainability in the textile industry. Consumers are becoming increasingly aware of the environmental and social impact of the clothes they buy and are demanding more sustainable options. However, many consumers still prioritize affordability and convenience over sustainability, making it challenging for companies to make sustainable choices economically viable.
Addressing the Challenges
Despite the challenges, there are several ways in which the textile industry can work towards sustainability. One approach is to implement sustainable practices throughout the supply chain, from the sourcing of raw materials to the disposal of products. This can involve reducing water and energy consumption, using sustainable materials, and reducing waste. Another approach is to increase transparency and accountability in the industry. This can involve tracking the origin of materials and ensuring that they are produced sustainably and ethically. It can also involve providing consumers with information about the environmental and social impact of the clothes they buy, empowering them to make more sustainable choices.
End-to-end pipeline agility - Berlin Buzzwords 2024Lars Albertsson
We describe how we achieve high change agility in data engineering by eliminating the fear of breaking downstream data pipelines through end-to-end pipeline testing, and by using schema metaprogramming to safely eliminate boilerplate involved in changes that affect whole pipelines.
A quick poll on agility in changing pipelines from end to end indicated a huge span in capabilities. For the question "How long time does it take for all downstream pipelines to be adapted to an upstream change," the median response was 6 months, but some respondents could do it in less than a day. When quantitative data engineering differences between the best and worst are measured, the span is often 100x-1000x, sometimes even more.
A long time ago, we suffered at Spotify from fear of changing pipelines due to not knowing what the impact might be downstream. We made plans for a technical solution to test pipelines end-to-end to mitigate that fear, but the effort failed for cultural reasons. We eventually solved this challenge, but in a different context. In this presentation we will describe how we test full pipelines effectively by manipulating workflow orchestration, which enables us to make changes in pipelines without fear of breaking downstream.
Making schema changes that affect many jobs also involves a lot of toil and boilerplate. Using schema-on-read mitigates some of it, but has drawbacks since it makes it more difficult to detect errors early. We will describe how we have rejected this tradeoff by applying schema metaprogramming, eliminating boilerplate but keeping the protection of static typing, thereby further improving agility to quickly modify data pipelines without fear.
Codeless Generative AI Pipelines
(GenAI with Milvus)
https://ml.dssconf.pl/user.html#!/lecture/DSSML24-041a/rate
Discover the potential of real-time streaming in the context of GenAI as we delve into the intricacies of Apache NiFi and its capabilities. Learn how this tool can significantly simplify the data engineering workflow for GenAI applications, allowing you to focus on the creative aspects rather than the technical complexities. I will guide you through practical examples and use cases, showing the impact of automation on prompt building. From data ingestion to transformation and delivery, witness how Apache NiFi streamlines the entire pipeline, ensuring a smooth and hassle-free experience.
Timothy Spann
https://www.youtube.com/@FLaNK-Stack
https://medium.com/@tspann
https://www.datainmotion.dev/
milvus, unstructured data, vector database, zilliz, cloud, vectors, python, deep learning, generative ai, genai, nifi, kafka, flink, streaming, iot, edge
06-04-2024 - NYC Tech Week - Discussion on Vector Databases, Unstructured Data and AI
Round table discussion of vector databases, unstructured data, ai, big data, real-time, robots and Milvus.
A lively discussion with NJ Gen AI Meetup Lead, Prasad and Procure.FYI's Co-Found
06-04-2024 - NYC Tech Week - Discussion on Vector Databases, Unstructured Data and AI
Discussion on Vector Databases, Unstructured Data and AI
https://www.meetup.com/unstructured-data-meetup-new-york/
This meetup is for people working in unstructured data. Speakers will come present about related topics such as vector databases, LLMs, and managing data at scale. The intended audience of this group includes roles like machine learning engineers, data scientists, data engineers, software engineers, and PMs.This meetup was formerly Milvus Meetup, and is sponsored by Zilliz maintainers of Milvus.
ViewShift: Hassle-free Dynamic Policy Enforcement for Every Data LakeWalaa Eldin Moustafa
Dynamic policy enforcement is becoming an increasingly important topic in today’s world where data privacy and compliance is a top priority for companies, individuals, and regulators alike. In these slides, we discuss how LinkedIn implements a powerful dynamic policy enforcement engine, called ViewShift, and integrates it within its data lake. We show the query engine architecture and how catalog implementations can automatically route table resolutions to compliance-enforcing SQL views. Such views have a set of very interesting properties: (1) They are auto-generated from declarative data annotations. (2) They respect user-level consent and preferences (3) They are context-aware, encoding a different set of transformations for different use cases (4) They are portable; while the SQL logic is only implemented in one SQL dialect, it is accessible in all engines.
#SQL #Views #Privacy #Compliance #DataLake
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...Aggregage
This webinar will explore cutting-edge, less familiar but powerful experimentation methodologies which address well-known limitations of standard A/B Testing. Designed for data and product leaders, this session aims to inspire the embrace of innovative approaches and provide insights into the frontiers of experimentation!
STATATHON: Unleashing the Power of Statistics in a 48-Hour Knowledge Extravag...sameer shah
"Join us for STATATHON, a dynamic 2-day event dedicated to exploring statistical knowledge and its real-world applications. From theory to practice, participants engage in intensive learning sessions, workshops, and challenges, fostering a deeper understanding of statistical methodologies and their significance in various fields."
Population Growth in Bataan: The effects of population growth around rural pl...
Impact of Covid-19 On The RMG Industry Of Bangladesh..pdf
1.
2. Page 2 of 10
Introduction
Bangladesh's development is accelerated by the readymade clothes sector. The "Made in
Bangladesh" label has also brought the country honour, establishing it as a respected brand around
the world. Once dubbed a "bottomless basket" by cynics, Bangladesh has now evolved into a
"basket full of wonders." Despite its meagre resources, the country has maintained a 6% annual
average GDP growth rate and achieved exceptional social and human development. (BGMEA,
2021). Bangladesh's development is accelerated by the readymade clothes sector. The "Made in
Bangladesh" label has also brought the country honour, establishing it as a respected brand around
the world. Once dubbed a "bottomless basket" by cynics, Bangladesh has now evolved into a
"basket full of wonders." Despite its meagre resources, the country has maintained a 6% annual
average GDP growth rate and achieved exceptional social and human development. (fibre2fashion,
2021). COVID-19 has already had an impact on the health and well-being of RMG workers (both
physical and mental), as well as job loss. We genuinely think that the COVID-19 pandemic will
have long-term consequences for garment workers, including health, financial difficulty, and
inability to pay for basic requirements such as food, as well as future job opportunities. During the
ongoing COVID-19 pandemic, stakeholders responsible for RMG factories in the global supply
chain (such as international retailers/brands, the Bangladesh Garment Manufacturers and
Exporters Association, and the Government of Bangladesh) should reconsider the health and
overall wellbeing needs of RMG workers. Not being able to afford the BDT 25 000 ($295) medical
bill, parents working in a textile mill in Gazipur (near Dhaka) had to sell their newborn child. The
father of the newborn infant indicated that they could not pay hospital expenses because the
garment factory where both husband and wife worked was closed because of the COVID-19
epidemic. Local police, on the other hand, retrieved the baby and returned it to its parents. Before
COVID-19, RMG personnel had already been identified as a very vulnerable group, with evidence
of heightened risk including rape and suicidal cases (during lockdown), illnesses, and deaths linked
to COVID-19.8–11. COVID-19 is a severe public health concern in both underdeveloped and
developed countries. (Humayun, Myfanwy and Kim 2020)
LITERATURE REVIEW
Everyone is being cursed as a result of the current economic dislocation, whether businesspeople,
service providers, students, or unemployed youth. Islam (2020) found that the recent COVID-19
pandemic has caused colossal damage in this emerging South Asian nation most notably in public
health, social well-being, and Education in Bangladesh. A blogging site Fair wear(2020) cited that
According to research conducted in Bangladesh, the COVID-19 epidemic has had a significant
impact on the clothing industry. Factories were hit with higher production costs, while unit prices
and orders fell. Workers, unsurprisingly, suffer the burden of job losses and income losses.
3. Page 3 of 10
According to a study from Unicef (2020), it is noticed that 1Introduction and background the
coronavirus pandemic has been the driving force of the country's economy in recent years,
accounting for 80% of export revenues. RMG factory revenue was a major component in forecasts
that Bangladesh will achieve middle-income status by 2021. However, it is no exaggeration to
state that the industry has 'fallen off a cliff since the establishment of COVID-19, as many
manufacturers have closed and are unable to pay salaries. Millions of workers, the majority of
whom are women, have had their orders cancelled or suspended, putting their jobs and financial
security in jeopardy. According to media reports, 70,000 people would have lost their employment
by June 2020, and up to one million jobs would be at risk until the end of the year. A Bangladeshi
NGO named BIGD (2020) stated that Because of COVID-19, the RMG industry in Bangladesh is
in a critical crisis, with a virtual halt to new business and widespread cancellation of existing
orders, resulting in a wave of job losses and agitation among workers, who are demanding factory
closures and payment of unpaid salaries. Amid the crisis, trade unions have been loud about
employees' rights to fair salaries and job security. The government's first financial stimulus
package, which covered workers' wages and was unveiled on March 25, 2020, was focused on the
RMG export sector. BIGD conducted a rapid qualitative study based on in-depth telephone
interviews to better understand the impact of the COVID-19 crisis on the RMG industry and the
4.1 million workers it employs, as seen through the eyes of trade union leaders, and to determine
their role in negotiating with various industry actors to mitigate the crisis. Boudreau & Naeem
(2021) found that buyer cancellations and renegotiations were common during the early stages of
the epidemic, according to our study. However, according to the findings, individual customers'
reactions to the epidemic differed significantly. In comparison to 2019, BGMEA member
manufacturers saw an almost 17.4 per cent decrease in revenue in 2020. Revenue losses varied
greatly among factories in 2020: those that were smaller, older, less well-managed, and sold to a
wider range of buyers had the greatest revenue losses. The impact appears to be moderate when it
comes to job opportunities: In the second half of 2020, employment fell by 7.4% compared to pre-
COVID-19 levels, though it began to rise near the end of the year. COVID-19 prompted some
factories to postpone or reduce planned capital investments, especially those aimed at boosting
automation. Fairooz (2021) examined that a distinct lack of regard for the RMG employees' well-
being. For years, the fight for adequate pay and other worker rights has been at the forefront of
labour leaders' demands, and this fight has intensified during the pandemic. There were reports of
100 incidences of labour unrest relating to wage payment in June 2020 alone. Following a tripartite
conference with labour leaders, government officials, and factory owners' associations, salaries for
workers who were unable to return to work due to the epidemic were lowered to barely 65%.
4. Page 4 of 10
Methodology
The study has made on descriptive research, is conducted to identify the different dimensions of
challenges in the readymade garment industry in Bangladesh. To come up with the result,
researchers were not required to visit the factory. For this reason, researchers have ignored the
direct data collection and surveys. Consequently, the research technique has relied based on
information from secondary sources. Those data were collected through Journals, Research
articles, Thesis papers, newspaper case studies, online newspapers and survey reports, garments
Manufacturing Industries Annual reports BGMEA Yearly reports and Files. The data was collected
basically through skimming ad scanning out the findings of a different secondary source. After the
completion of the data collection, descriptive analyses were used to illustrate the data. This study
did not use any unethical means to collect information.
Result and Discussion
Covid-19 is no longer just a global health concern, but also a direct result of the economic
downturn and the labour market. The pandemic has already forced the closure of a variety of
economic sectors, including public transportation, airlines, and the luxury goods industry.Though
the people of Bangladesh are not as badly affected as those in Italy or America, the numbers are
nonetheless rising, forcing most factories to close.
On the other hand, different buyers and importers are cancelling their purchases.Last year's
garment exports in the same month were US$ 26.24 billion (4.8 per cent) higher than this year's,
and just US$3.32 billion less in February than last year. In terms of economic impact, Bangladesh's
garment industry remains the largest exporting industry, with extraordinary growth over the last
two decades.
The garments industry has provided employment chances to workers from rural areas who
previously had no formal employment access.
In the end, it contributes to poverty reduction, women's empowerment, and societal
development.
Because of the corona pandemic scenario in Bangladesh, an indirect lockdown was implemented
for the first time on March 26, 2020, and was extended six times until May 30, 2020.
Transportation, industrial, agricultural facilities, and schools, colleges, and factories were all shut
down.
5. Page 5 of 10
Source: BGMEA (2021)
Figure 1: Comparative Statement on Export of RMG & Total Export of Bangladesh (Value in
Million USD)
Fig-1 shows the overall comparison of the export of RMG and the total export of Bangladesh over
the years. It clearly shows that even though the export of rmg was gradually increasing from
2010-2011 to 2018-2019, it suddenly broke down in 2019-2020. The total value of exports fell
dramatically from 34133.24 million (USD) to 279491.19 million. It is because a large number of
orders were cancelled due to the effect of COVID-19. As the buying nations started to quarantine
themselves, eventually the orders dropped. (BGMEA 2021)
In December 2020, US garment imports from Bangladesh fell by $56.17 million to $361.88
million, down from $418.057 million the previous month. (new-age business, 2021)
6. Page 6 of 10
Source: Lutfor, Hridoy and Israt. (2021)
Figure 2: Workers in many sectors around the world who are at risk of losing their jobs.
A vast number of people are employed in the garment industry, either directly or indirectly, and
they are at risk of losing their jobs in big numbers.
Transportation has the same influence on dairy, tourism, and poultry.
Orders have recently been cancelled, large companies are at risk of losing their investment, various
factories are closing their doors, millions of jobs are in jeopardy, and the economy is suffering.
Because there is no vaccine until June 13, 2020, the government is adopting certain practical steps
and policies to ensure that the economy runs smoothly and that the country avoids a period of
depression as a result of the Covid-19 outbreak.
The below Figure 2 shows the closures of the workplace, public events cancellation, income support and
public transport closure.
7. Page 7 of 10
Source: Lutfor, Hridoy and Israt (2021)
Fig-3:Bangladesh's situation in several industries for Covid-19.
In Figure 3, public transportation is completely shut down from March 16 to May 30, resulting in
millions of people losing their jobs.
For a long time, public activities and workplaces have been closed; only a few government
workplaces, such as defence, hospitals, and emergency services, have reopened.
Bangladesh's apparel factories accounted for roughly 84 per cent of the country's total export, but
due to the pandemic, major buyers from various countries, including Topshop, Asda, Urban
Outfitters, Sports Direct, New Look, Peacocks, and other larger companies, cancelled orders worth
approximately US$ 3.4 billion in March and April.
Workers, on the other hand, are not being paid. The STAR (Sustainable Textile of Asian Region)
has attempted to organize the groups that create fashion goods in Bangladesh, Cambodia,
Myanmar, Pakistan, China, and Vietnam. BGMEA opted to repair manufacturing units with 30%
of the workforce, encouraging only workers who live near their respective 7 firms to participate.
However, more than half of those working there are breaking the Covid-19 criteria, according to
the BGMEA inspection team. The profit for the first ten months of this fiscal year (July 19 to April
20) is down 14 per cent, the lowest in the last five years. Only in May 2020 does the profit fall by
55.7 per cent. Between March and June, US$ 3.18 billion in orders for 982 million components
were cancelled, affecting 2.28 million Bangladeshi employees whose employment are in jeopardy.
According to Meckengi, Bangladesh's textiles sector sales will drop by around US$10 billion in
2020, a 30 per cent drop due to Covid-19. (Lutfor, Hridoy and Israt)
8. Page 8 of 10
Source: Lutfor, Hridoy and Israt. (2021)
Fig - 4: The state of Bangladesh's economy and Covid-19:
Figure 4 shows that the overall number of positive cases in Bangladesh is increasing day by day,
with the greatest number of people impacted on June 12th, 2020, at 3471 per day.
Because no vaccine has yet been developed, it will be necessary to defend against the virus by
instituting measures such as lockdown, hand sanitization, and the use of musk, among others.
The economy will be harmed even more if the lockdown lasts longer.
Covid19's overall case count in Bangladesh.
Recommendation
Based on the results of the study and domestic and global literature, the study suggests the
following recommendations help RMG entrepreneurs, legislators, and other stakeholders deal with
the issues posed by the COVID-19 pandemic.
The government can enact legislation mandating that no factories are closed or workers are laid
off without first paying their dues.
If a production closure is required due to an emergency, the factory must pay workers until the
situation improves, and no workers can be fired.
The financial institution may assist the industry by providing loans and other forms of financial
assistance.
9. Page 9 of 10
Conclusion
Because there isn't enough information to know how long COVID-19 lives on different surfaces
(fabric, metal, plastic, etc. ), it's plausible that the virus may be spread across the border if the
clothing is created by COVID-19 infected people.
As a result, all actors in the Bangladesh RMG sector, including global health communities,
BGMEA, international brands/retailers, the GoB, and the International Labor Organization, must
act quickly to protect workers' health and overall well-being, as well as the health of people in
other countries, during the COVID-19 pandemic.
In addition, to ensure Bangladesh's economic sustainability, the global supply chain and RMG
trade must be tenured for the long term. Clothing production during the COVID-19 epidemic
should not proceed without a thorough review of the system and the preparation of a plan to protect
workers' health and safety. Finally, the United Nations Development Program has launched an
immediate assessment for global trades to conduct human rights due diligence in response to the
COVID-19 pandemic. The Bangladesh government and the RMG business must take notice of this
warning. Because the garments sector contributes the most to export revenues, it has the potential
to turn around Bangladesh's economy right now. Even though some corporations have recently
returned their dues, the number of orders cancelled is so great that manufacturers are unable to pay
their employers and are losing their jobs, increasing our unemployment rate day by day. Many
families are struggling to make ends meet as a result of their reliance on this sector.
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