Industries Minister Khandaker Abdul Muktadir has stressed the importance of ensuring the swift disbursement of funds to genuine entrepreneurs, rather than merely allocating money, to drive the growth of the country’s shipbuilding industry.
Speaking as the chair at a discussion on financing, fast-tracking fund release, and assistance for the shipbuilding sector at the Ministry of Commerce conference room on Thursday, he noted that since the number of entrepreneurs and institutions in this industry is relatively small, a suitable financing mechanism must be developed taking into account their specific needs and capacity.
The number of entrepreneurs and the scope of enterprises in the country’s shipbuilding industry are still relatively limited. Consequently, priority must be given to the practical requirements and capabilities of entrepreneurs when developing a financing framework for the sector. Alongside easy financing, ensuring effective institutional support is essential for the growth and capacity building of the industry, said the minister.
The minister underscored the importance of building an effective partnership between the public and private sectors for the long-term development of the shipbuilding industry. He pointed out that while private management is globally considered more efficient, a disciplined and accountable institutional management setup is necessary during the transition period of the sector’s growth.
Financial discipline, transparency and the proper utilisation of resources can be ensured under public management, he added.
The minister emphasised that the goal of the shipbuilding industry should not be confined to immediate profit-making. Rather, its broader economic potential must be harnessed by gaining long-term competitiveness in the international market and increasing export earnings. To this end, emphasis must be placed on creating new entrepreneurs, involving the next generation with the sector, and building a professional corporate culture.
Highlighting the need to build an effective bridge between the public and private sectors to boost the investment and operational capacity of private entrepreneurs, the minister said that private sector participation must be further strengthened by leveraging the discipline and institutional capacity of public organisations. To this end, he urged entrepreneurs and all stakeholders in the shipbuilding industry to work in a coordinated manner.
Industries Secretary Abdun Naser Khan, Rear Admiral Md Abdul Latif, managing director of Khulna Shipyard Limited, senior officials of the Ministry of Industries and owners of enterprises related to the shipbuilding industry were present at the meeting.
