Why Bangladesh? Why Now?
Food industry is a rapidly growing sector in Bangladesh, employing a significant portion of the labour force in the country. Between 2004 and 2010, the food processing industry in Bangladesh grew at an average 7.7 percent per annum. Bangladesh Bureau of Statistics, in its 25006 Economic Census, reported that there were approximately 246 medium-sized food processing industries employing 19 percent of the industrial manufacturing workforce in Bangladesh or 8 percent of the total manufacturing labour force. The food industry employs 2.45 percent of the country’s total labour force and its share in the GDP was 2.01 percent in 2010. There are also numerous small scale factories and domestic units engaged in food processing throughout the country. According to some industry analysts, the food processing sector in Bangladesh is a 4.5 billion US Dollar industry. In 2010, Bangladesh exported over $700 million worth of processed food and beverages, over 60 percent of them were shrimped and fish products.