The other three main dimensions-i.e., the factor conditions, related and support industries, and industry strategy, structure and rivalry-mostly played conducive roles in the development of the RMG industry in Bangladesh and provided the impetus to achieve competitive advantage in the global market. Among the four main National Diamond dimensions, the RMG industry of Bangladesh appeared to enjoy competitiveness without having a favorable demand condition in the domestic market. The findings of the study reveal that not all the dimensions of Porter’s National Diamond model contributed to the competitiveness of the RMG industry. A further 30 face-to-face interviews with representatives from five different stakeholder groups including international buyers were conducted to get further explanations and insights of different factors of importance for achieving and maintaining the competitiveness of the RMG industry of Bangladesh. A survey of 199 respondents from 150 RMG factories was conducted to assess effects and relative weights of different factors included in the National Diamond model and to understand the basis of the competitiveness of the RMG industry of Bangladesh. Secondary literature, consisting mainly of reports and documents from government and the private sector, were collected to comprehend the contemporary industry. The study followed a mixed method approach to investigate the research questions. A SWOT analysis is also conducted to identify future challenges and critical success factor for the continuing contribution of the industry. Michael Porter’s Diamond model of national competitiveness is used as the main analytical framework to assess the sources of competitiveness. Considering the importance of the export-led economic growth strategy, this study assessed the global competitiveness of this industry.
The future economic development of the country depends on the success and continuation of such industrial sectors for export-led growth of the country. Abstract: Bangladesh achieved remarkable economic development in the last few decades, and the ready-made garment (RMG) industry played a vital role in this regard.
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