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Low-interest loans sought to raise ship exports

Our Correspondent . Chattogram
16 Mar 2023 21:46:30 | Update: 16 Mar 2023 22:16:12
Low-interest loans sought to raise ship exports
— Courtesy Photo

The government should increase the availability of low-interest bank loans and grant other facilities to shipbuilders of Bangladesh so that the country can boost ship exports, stakeholders said on Thursday.

Although Bangladesh has the capacity to build ships with lengths up to 175 metres, the orders for ships are very low at present, which must be increased, they said. 

Besides, they said it is very difficult to repay the bank loans at 14 per cent – 16 per cent interest rates.

Speakers made the remarks at a workshop organised by the Bangladesh Investment Development Authority (BIDA) in Chattogram, as a precursor to an upcoming survey on “Prospects and Problems of Shipbuilding Industry in Bangladesh.”

Chittagong Chamber of Commerce and Industry (CCCI) Director Anjan Shekhar Das presided over the event, and BIDA Executive Member Md Matiur Rahman was present there as the chief guest.

BIDA directors Suman Chowdhury and Mohammed Moazzem Hossain attended the event as special guests. Besides, CCCI former directors Mahfuzul Haquq Shah and Md Anwar Shawkat Afsar as well as other stakeholders were present on the occasion.

At the workshop, discussions were held on the prospects of shipbuilding and other related companies, issues regarding the procurement of raw materials, marketing and exports, the volume of domestic and foreign demands, constraints and actions to boost the industry.