US investment firm in Bangladesh opens Sunday

US investment firm in Bangladesh opens Sunday

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Tau Investment Management, a New York-based growth equity firm, which is committed to investing US$1 billion in transforming global supply chains, will make its official launch here on Sunday.
Over the next three years, Tau will first target textile and apparel manufacturers in frontier and emerging markets, such as Bangladesh.
A significant portion of the fund will be invested in Bangladesh to drive growth and improve performance of the existing large-scale manufacturers, said an official release.Chairman and CEO of the Tau, Oliver Niedermaier will introduce Tau’s vision for investing to build long-term competitiveness of Bangladesh garment and textile manufacturers.
Commerce Minister Tofail Ahmed, Bangladesh Bank Governor Dr Atiur Rahman and Deputy Chief of Mission, US Embassy in Dhaka Jon Danilowicz will attend the launching ceremony.
By bringing capital and expertise, Tau will transform factories, and in turn, the supply chains of the world’s largest brands.
Such transformations will yield improved transparency, greater dignity for workers, cleaner environment for communities and enhanced performance and value for stakeholders.
Tau draws on partnerships with apparel industry leaders, NGOs, and policymakers to address the sector’s top issues, including unsafe workplaces, forced and child labor, and environmental degradation.
The transformations will result in a reduction of roughly 24 million metric tons of greenhouse gases and 2.5 billion kilowatt hours of energy through increased efficiencies – all of which also enhance financial performance.
Tau’s vision is to transform the supply chains of several industries, beginning with garments and then expanding to others, such as consumer electronics and agribusiness. – UNB

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