Staff reporter:
Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir has stressed the need to ensure that funds reach genuine entrepreneurs promptly, to promote the country’s shipbuilding industry.
He said that as the number of entrepreneurs and companies in the sector is relatively small, a suitable financing mechanism should be developed considering their needs and capabilities.
In this regard, direct fund disbursement through Bangladesh Bank, as well as financing through selective banks or financial institutions, could be considered.
He also stressed the need to remove delays in fund disbursement to enhance the industry’s international competitiveness and export potential.
The minister made the remarks while chairing a discussion meeting on financing, faster fund disbursement and support for the shipbuilding industry at the conference room of the Ministry of Commerce yesterday.
The minister said the number of entrepreneurs and the scale of companies in the country’s shipbuilding industry remain relatively limited. Therefore, the actual needs and capabilities of entrepreneurs must be prioritised in developing a financing mechanism for the sector.
He said easy access to finance, alongside effective institutional support, was essential for the industry’s development and capacity enhancement.
The industries minister emphasised the need to establish effective partnerships between the public and private sectors for the long-term development of the shipbuilding industry.
He said that although private management is considered more efficient globally, a disciplined and accountable institutional management system is needed during the transitional period of the industry’s development.
Financial discipline, transparency and proper utilisation of resources can be ensured through government management, he added.
Khandaker Abdul Muktadir said the objective of the shipbuilding industry should not be limited to making immediate profits. Rather, its broader economic potential should be harnessed by building long-term competitiveness in international markets and increasing export earnings.
To this end, he stressed the importance of creating new entrepreneurs, engaging the next generation with the industry and developing a professional corporate culture.
He also highlighted the need to build effective bridges between the public and private sectors to increase investment and business capacity among private entrepreneurs.
He called upon shipbuilding entrepreneurs and all relevant stakeholders to work together towards this goal.
Industries Secretary Abdun Naser Khan, Khulna Shipyard Limited Managing Director Rear Admiral Md. Abdul Latif, senior officials of the Ministry of Industries and owners of institutions involved in the shipbuilding industry attended the meeting.
