Shipbuilding industry
Bangladesh has entered the export market of sea-going vessels. The shipbuilding industry is now in a position to get a place on the list of priority sectors of the new export policy .The other sectors to be on the list, are agro and agro-processing products, light engineering, footwear and leather, pharmaceuticals, software and ICT products and home textiles.
Now, Bangladesh has become a popular destination in building small sea-going ships as South Korea, China, Vietnam and other countries go for larger container ships. Foreign buyers are now coming to Bangladesh because shipbuilding in East Asian countries has become more costly due to steep wage increases. The country exported its first ship built by Ananda Shipyard and Slipways to Denmark last year under the agreement with Stella Shipping Co. of Denmark. Ananda alone has struck deals worth around $225 million to build at least 24 vessels, including six ferries for leading companies in Denmark, Germany and Mozambique.
There is a demand of USD 400.00 billion for shipbuilding industry in the global market. The EPB also forecasts that there lies a huge prospect for earning foreign currency as well as employment in this sector by using our available skilled but comparatively cheap labour and expert engineers of the country.
In line with diversification of our country's export base, potential and new sectors should be given preference. The central bank should instruct the scheduled banks to lend to the shipbuilding industries at lower rates and may fix a maximum interest rate ceiling. The bank may also help this new sector by giving cash incentives on exports and bring it under the facility of Export Development Fund (EDF) programme.
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