Govt to establish another floating LNG terminal: commerce minister

Commerce Minister Khandakar Abdul Muktadir today said the government plans to establish another floating LNG (liquefied natural gas) terminal to ensure an uninterrupted energy supply for industries.

The facility is expected to add 550-600 million cubic feet of gas per day to the national grid, he said.

The minister noted that many industrial enterprises have been unable to begin production due to gas shortages. Ensuring an uninterrupted energy supply is therefore one of the government's top priorities, as it will play a crucial role in boosting industrial production, employment and exports.

He also said the government is implementing fast-track reforms to boost investment, expand industrialisation, create employment and strengthen export competitiveness by improving business start-up procedures, licensing services, port management and the energy sector.

As part of these efforts, the government has significantly reduced the time required to start a business and obtain licences, including an initiative to provide initial approval for company registration within just 14 days, making Bangladesh a more attractive investment destination.

Following the successful models of Singapore and Malaysia, the government is also introducing a one-stop online service platform, an integrated inspection system and modernising port management, the minister said.

He noted that around 85 percent of Bangladesh's total export earnings come from the ready-made garment (RMG) sector and that no other sector is expected to reach a similar level in the short term.

Muktadir made the remarks while speaking at an industrial placement and recruitment talent event organised by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), in collaboration with the HSBC-AUW School of Apparel at the Asian University for Women (AUW), at the BGMEA office.

At the event, AUW Vice Chancellor Rubana Huq urged BGMEA member factories to sponsor female professionals from the apparel sector to pursue higher education through AUW's Master of Science in Apparel and Retail Management programme.

Such partnerships would demonstrate the industry's commitment to developing the next generation of leaders, she said, according to a BGMEA statement.

Huq expressed optimism that the joint initiative would create a strong pipeline of skilled women professionals in critical areas such as supply chain management, sustainability and industrial engineering for the apparel sector.

BGMEA President Mahmud Hasan Khan said the initiative reflects the organisation's long-term commitment to enhancing the global competitiveness of Bangladesh's RMG industry through human capital development.

"We highly appreciate AUW's visionary proposal and the sponsorship model. To develop the next generation of industry leaders, BGMEA will encourage its member factories to actively participate in this dedicated sponsorship initiative," he said.

The HSBC-AUW School of Apparel was established at the Asian University for Women to create a pipeline of highly skilled women professionals for Bangladesh's RMG industry.

The event featured discussions on internship opportunities for students, graduate recruitment and the future development of the country's apparel sector.

The discussions emphasised the importance of stronger industry-academia collaboration, particularly in promoting the sustainable growth of the RMG industry and strengthening Bangladesh's competitiveness in the global marketplace through closer cooperation between universities and the apparel sector.

Kihak Sung, chairman of Youngone Corporation; Kamal Ahmad, founder of the Asian University for Women; Kutubuddin Ahmed, former president of BGMEA; and Syeda Afzalun Nessa, head of Sustainability at HSBC Bank Bangladesh, also spoke.