The New Nation - Internet Edition

Chittagong Correspondent

Some of the local entrepreneurs claimed to have earmarked fresh means of bulking foreign exchange by manufacturing marine-vessels, ferries, cruise-ship, fishing-boats and launches here at the country's coastal belt and the off-shore islands.

They believed that the potential of the newly earmarked sector had long been left untapped simply for want of visionary entrepreneurs, favorable atmosphere and the state patronization.

It is assumed that the shipbuilding industry will be the driving force of another socioeconomic uplift in the country after the RMG (readymade garment) driven revolution of the 80s by creating many employments at the shipyards and its backward linkage subsidiaries. The annual turnover of the global shipbuilding industry is around US $ 1,522 billion. European shipbuilders stopped taking order until 2010, while the Asian shipbuilders in Korea, Japan, China, Singapore, Malaysia and Vietnam received adequate export orders.

It is speculated that over US $ 300 billion worth of export is yet to be tapped where native ship-making companies may easily have shares.

The Western Marine Shipyard Limited has so far set an example of huge private initiative by acquiring orders for manufacturing five seagoing cargo vessels from a Danish company.

An official of the shipyard claimed that they would soon enter into fresh agreement of making container vessels and cruise-ship for Dutch company. Two other shipbuilders - Ananda Shipyard Limited and Slipways Shipyard Limited - are also in operation.

Entrepreneurs claimed that acquiring international certification and accreditation from the Germanisher Lloyd and Norske Veritas were a must for growing as a shipbuilding nation.

"In most cases international certification depends on the vessel's design, craftsmanship, interior and exterior decoration, utilities, security and safety features what are again directly linked to the international suppliers of the vessel components," an official of the country's biggest private shipyard said demanding a favorable import policy for the budding industry.

Managing Director of the Western Marine Shipyard Limited Mohammad Sakhawat Hossain alleged that the central bank barred them from sending money to the foreign suppliers. He said that they had to send US $ 100 thousand initially for getting the ship's design done.

"We'll enhance the Gross Domestic Product (GDP) by at least three per cent from the projected figure within next six years if we're given a favorable environment," he asserted.

Referring to Vietnamese investment in the shipbuilding yards over the last decade, officials said that Bangladesh had a competitive edge over its Asian competitors because of its cheap and able workforce.

They think it is high time to tap the potential and urged the government to provide the industry required moral and infrastructure supports.

The Western Marine Shipyard Limited has so far built 55 vessels. The vessels acquired certification from the international classification companies.