Minister Urges Faster Financing to Boost Shipbuilding Industry

Industry Minister Khandaker Abdul Muktadir has emphasised that ensuring timely disbursement of funds to genuine entrepreneurs, rather than merely allocating financial resources, is crucial to developing the country's shipbuilding industry.

He said that as the number of entrepreneurs and companies operating in the sector remains relatively small, an appropriate financing mechanism should be developed based on their actual needs and financial capabilities. In this regard, direct fund disbursement through Bangladesh Bank, alongside financing through designated banks or financial institutions, could be considered.

He also stressed the need to eliminate bureaucratic delays in fund disbursement to strengthen the industry's international competitiveness and export potential.

The minister made the remarks while chairing a meeting on financing, expediting fund disbursement and providing support to the shipbuilding industry at the conference room of the Ministry of Industries on Thursday.
He said easy access to finance and effective institutional support were essential for the industry's growth and capacity development.

The minister also underscored the importance of effective public-private partnerships to ensure the long-term development of the shipbuilding industry.

He observed that although private-sector management is generally considered more efficient worldwide, a disciplined and accountable institutional management system is necessary during the industry's transitional phase. Government management, he said, could help ensure financial discipline, transparency and the proper utilisation of resources.

He further said the objectives of the shipbuilding industry should not be confined to generating immediate profits. Instead, the sector should focus on building long-term competitiveness in international markets and increasing export earnings to realise its broader economic potential.

To achieve these objectives, he emphasised the need to develop new entrepreneurs, engage the next generation in the industry and establish a professional corporate culture.

He also highlighted the importance of strengthening coordination between the government and private sector to enhance entrepreneurs' investment capacity and business capabilities.

The minister called upon shipbuilding entrepreneurs and relevant stakeholders to work together in a coordinated manner to advance the sector, stressing that the institutional discipline and capabilities of government organisations should be utilised to encourage greater private-sector participation.

Industries Secretary Abdun Naser Khan, Khulna Shipyard Limited Managing Director Rear Admiral Md Abdul Latif, senior officials of the Ministry of Industries and proprietors of institutions involved in the shipbuilding industry attended the meeting.