• Monday, Jan 27, 2020
  • Last Update : 12:33 am

An emerging sector

  • Published at 12:00 am January 13th, 2020
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Bangladeshi shipbuilding industry has great potential in the domestic market Syed Zakir Hossain

Our ship-building industry can step up, providing our economy with the necessary boost

It is extremely encouraging to know that Bangladesh’s ship-building industry is slowly burgeoning, with the hope that this is just the beginning and that the capacity for building more ships will increase in the near future.

Earlier this week, Bangladesh handed over two large cargo vessels to India, and it is indeed a matter of pride for the nation that ships made in Bangladesh now have demand on the international market.

However, it is important now for the authorities concerned, along with the stakeholders involved, to not only continue the good work but to make sure that this is the next big industry that our country can make an impact on at the international level.

Bangladesh is at a critical juncture in its development journey. We have aspirations of reaching middle income status in the very near future, alongside which we wish to experience double-digit economic growth.

As such, it is important to prioritize and plan ahead of time, so that the economy continues to function smoothly in the future without experiencing any significant slowdowns.

One way for that has been in bringing diversity to our exports.

For too long, it has been our RMG sector which has been the driver of exports in the country and Bangladesh is in dire need of more sectors to develop, so that they will be able to provide the necessary support for the continued growth of our exports.

This is where our ship-building industry can step up, providing our economy with the necessary boost to continue the strong exports and achieve our economic ambitions.

Therefore, we hope that the government continues to support the endeavours of this industry and help it grow in tandem with our overall economy.