• Wednesday, Aug 10, 2022
  • Last Update : 04:24 pm

ED: From ship-breaking to ship-building

  • Published at 02:45 am September 29th, 2021
cruise ship
COURTESY

It is wonderful to see us not only get back on our feet, but explore new horizons

The government’s recent decision to explore international standard cruise ship-building is a welcome step in the right direction.

For perhaps too long, our economy has needed to diversify its product and export basket and reduce our dependence on the RMG sector, which still props up the bulk of our economy. To that end, the ship-building industry is an area where Bangladesh holds great potential of succeeding in, having already demonstrated its capabilities in the ship-breaking industry as well.

Currently, the construction work on three such cruise ships has been undertaken, with an aim to launch them two years from now, in 2023. If all goes smoothly, this venture will not only boost the economy, but also generate more employment opportunities, attract foreign investment, and expand the country’s tourism sector, which is likely to need a strong jumpstart in a post-Covid-19 world.

Indeed, the pandemic gave a battering to most economies of the world, and Bangladesh is no different. But our resilience has been nothing if not admirable, and it is wonderful to see us not only get back on our feet, but explore new horizons -- and ship-building is an industry that shows tremendous promise.

The country is still at a critical development stage, with LDC graduation on the horizon, and it would do us well to keep planning with similar foresight in order to prevent the economy from experiencing significant setbacks as we continue our journey forward.

We have come a long way, starting from ship-breaking, to ship-building, and now this -- all of which is progress we must continue to build upon.