Dhaka:Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir has emphasized the urgent need for timely fund disbursement to genuine entrepreneurs in order to foster growth in the country's shipbuilding industry.
According to Bangladesh Sangbad Sangstha, the minister pointed out the necessity for developing an appropriate financing mechanism tailored to the needs and capabilities of the relatively small number of entrepreneurs and companies in the sector. He suggested that direct fund disbursement through Bangladesh Bank, as well as financing via selected banks or financial institutions, could be viable options to consider.
The minister, while chairing a discussion meeting at the Ministry of Commerce, highlighted the importance of removing delays in fund disbursement to enhance the industry's international competitiveness and export potential. He also noted the need for easy access to finance and effective institutional support to aid the industry's development and capacity enhancement.
Furthermore, the minister stressed the establishment of effective public-private partnerships for the long-term development of the shipbuilding industry. He outlined the importance of financial discipline, transparency, and the proper utilization of resources, which could be ensured through government management during the industry's transitional development period.
Khandakar Abdul Muktadir also underscored the broader economic potential of the shipbuilding industry, advocating for strategies that focus beyond immediate profits to build long-term competitiveness in international markets and boost export earnings. He encouraged the creation of new entrepreneurs, involvement of the next generation, and development of a professional corporate culture within the industry.
The minister called upon shipbuilding entrepreneurs and stakeholders to collaborate towards these objectives. The meeting was attended by Industries Secretary Abdun Naser Khan, Khulna Shipyard Limited Managing Director Rear Admiral Md. Abdul Latif, senior officials from the Ministry of Industries, and industry stakeholders.