Shipbuilding could become Bangladesh's second largest export currency earning production industry by the year 2015.
Shipbuilding could become Bangladesh's second largest export currency earning production industry by the year 2015. If it is to reach its potential, and indeed flourish as a pillar of Bangladesh's economic development, the ground must be laid today to facilitate an enabling environment that sees the industry and the Government working hand in hand.
Whilst the types of ships produced in Bangladesh and other ship-building nations has seen several tides of change during the 20th century, the Bangladesh shipping industry must now focus on seizing a market opportunity that could see Bangladesh emerge as one of the key world players.
To do this, it must ensure that it develops the most accommodating and enabling environment, where there is sufficient skilled labour, including designers, naval architects and marine engineers, where meeting international class standards and obtaining international recognition is a priority, where access to raw materials is affordable and easy, where import and export processing requirements are effective, where investment in infrastructure ensures that the industry consistently matches international requirements, where quality, training and technology ensure international reputation, where networks, clusters, suppliers, trade organisations and public and private sector bodies work together to achieve a common goal, and where financial incentives, such as bank guarantees, Green Channel status, Export Processing Zones, foreign exchange charges, tax holidays and subsidies, provide the crutch that makes the difference between economic failure and economic success of an industry.
The changing environment of the shipbuilding industry and the clear sign that the world economy is on the road to recovery, presents an opportunity for the Bangladesh Shipbuilding industry to make its mark, but the key to achieving success tomorrow, lies in preparing today.
Bangladesh Foreign Trade Institute (BFTI), a national trade policy think-tank in a public-private partnership is organizing an International Shipbuilding Conference on Tuesday, 29 September 2009 at Pan Pacific Sonargaon, Dhaka.