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Market Pulse

Market Pulse February 2012

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Published On:
02-23-2012

Description

Though history of shipbuilding in Bangladesh dates back to a long ago, the history of building modern and high tech ships is just being written. In 17th century, the entire fleet of ships of the Sultan of Turkey was built at Chittagong. Also in 1805, British Navy built ships at Chittagong for the famous battle of Trafalgar. Over the years the legacy outshone and Bangladesh started being the hub of breaking ships. Lately, Bangladesh has emerged as a modern and hitech shipbuilding nation sparking the eyes of world. Some private sector entrepreneurs have endeavored to revive the lost glory with their vast education and experience in marine technology and shipbuilding to establish shipyards in the country and take shipbuilding to a new horizon. Next to Ready Made Garments, shipbuilding industry has the potential to be foreign currency cow for Bangladesh . This emerging industry can contribute 2% of National GDP by 2015 with proper policy supports . Bangladesh as a country can get highly benefitted from this single industry in terms of foreign currency earning, mass employment, and development of backward linkages.