Chattogram:Commerce Minister Khandakar Abdul Muktadir announced government plans to enhance exports from the shipbuilding and ship recycling sectors, emphasizing their growing international market potential.
According to Bangladesh Sangbad Sangstha, the minister spoke as the chief guest at a meeting at Chattogram Dry Dock Limited (CDDL), where he outlined the government's commitment to providing policy and infrastructural support. The aim is to address bank guarantee complications faced by private shipyards and improve domestic capacity through coordinated efforts between the government and private sector.
The minister highlighted that several thousand old ships are expected to undergo recycling globally in the next five to seven years. Bangladesh aims to capitalize on this opportunity by increasing the number of environmentally compliant green shipyards, with several already approved and others pending approval.
He noted that the ship recycling industry holds the potential to generate billions of US dollars in foreign exchange annually. Compliance with international standards and enhanced design capabilities will be crucial for expanding ship exports to markets in Europe and North America. Plans are underway to establish a modern design and skills development center in collaboration with international partners from Norway and the Netherlands.
Addressing challenges, the minister pointed out that bank guarantees pose significant obstacles for private shipyards. To mitigate this, the government is developing a 'hybrid model' involving private companies and dockyards under the Bangladesh Navy's supervision, allowing for the completion of shipbuilding projects with government-backed bank guarantee facilities.
A high-level committee, including representatives from the ministries of Shipping; Environment, Forest and Climate Change; and Commerce, will coordinate efforts to develop the sectors further.
During the meeting, officials discussed the potential of Chattogram Dry Dock for constructing large vessels, emphasizing the need for modern equipment and facilities to fully exploit its capabilities. Notable attendees included Commander of Chattogram Naval Area Rear Admiral Mohammad Ziaul Hoque, Area Superintendent of the Dockyard Rear Admiral Md Ruhul Minhaj, and Managing Director of CDDL Commodore Mohammad Joynal Abedin.
The commerce minister also visited Karnaphuli Dry Dock in Anwara upazila, accompanied by its Managing Director Engineer Abdur Rashid.