Industries Minister Khandaker Abdul Muktadir has stressed the need to ensure faster disbursement of funds to genuine entrepreneurs, saying timely financing is essential for the growth and international competitiveness of Bangladesh’s shipbuilding industry.
He said financing mechanisms must be designed based on the actual needs and capabilities of entrepreneurs, as the number of investors and companies operating in the sector remains relatively limited.
The minister made the remarks while chairing a meeting on financing, faster fund disbursement and support for the shipbuilding industry at the conference room of the Ministry of Commerce on Thursday.
He said financing could be provided directly through Bangladesh Bank or channelled through designated banks and financial institutions, depending on the requirements of the industry.
Emphasising the need to eliminate delays in fund disbursement, he said timely financial support would help strengthen the industry’s international competitiveness and expand its export potential.
The minister noted that easy access to finance alone would not be enough to develop the sector. Effective institutional support would also be necessary to enhance its capacity and ensure sustainable growth.
He also underscored the importance of building effective partnerships between the public and private sectors for the long-term development of the shipbuilding industry.
Although private-sector management is generally considered more efficient worldwide, he said, a disciplined and accountable institutional management system was necessary during the industry’s transitional development phase.
Government management could help ensure financial discipline, transparency and the proper utilisation of resources, he added.
Khandaker Abdul Muktadir said the industry’s objectives should not be limited to generating immediate profits. Instead, it should focus on developing long-term competitiveness in international markets and increasing export earnings to realise its broader economic potential.
To achieve these goals, he stressed the need to create new entrepreneurs, involve the next generation in the industry and develop a professional corporate culture.
He also highlighted the importance of building effective bridges between the public and private sectors to enhance private entrepreneurs’ investment capacity and business potential.
The minister said the institutional strength and discipline of government organisations should be utilised to strengthen private-sector participation.
He called on shipbuilding entrepreneurs and all relevant stakeholders to work together in a coordinated manner to advance the industry.
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 companies involved in the shipbuilding sector attended the meeting.
