Japanese shipping company Mitsui O.S.K. Lines (MOL) has expressed strong interest in investing in Bangladesh's ship recycling sector and providing technological cooperation as part of a long-term partnership between the two countries.
A delegation of MOL entrepreneurs expressed the interest during a meeting with Industries, Commerce and Textiles and Jute Minister Khandakar Abdul Muktadir at the Ministry of Industries on Wednesday, according to a senior ministry official.
The Japanese company is also interested in developing cooperation with Bangladesh in environmentally friendly ship recycling, technology transfer and skilled human resource development, the official said.
During the meeting, Muktadir said ship recycling and shipbuilding could play an important role in Bangladesh's industrialisation, employment generation and economic growth.
"Development of these two sectors will not only enhance industrial capacity but also contribute to technology transfer, skilled manpower development, expansion of investment and growth of export capacity," he said.
Bangladesh is currently one of the world's major ship recycling countries, with long-standing experience, a skilled workforce and the necessary infrastructure, the minister said.
Around 31 green ship recycling facilities are currently operating in the country, he said, adding that the government plans to increase the number to three digits in the coming years.
"Bangladesh's goal is not limited to recycling old ships; rather, the country wants to use its existing capabilities to build a strong foundation for the shipbuilding industry," Muktadir said.
Japan's technological expertise, advanced management practices and long experience in shipbuilding could provide significant support to Bangladesh, he added.
The minister said mutual trust and cooperation between Bangladesh and Japan could help transform the ship recycling and shipbuilding sectors into an integrated and strong industrial base.
He also stressed the importance of such cooperation for Japan as a maritime trade-dependent country, noting that maritime transport and shipbuilding are closely linked with Bangladesh's import of raw materials, industrial production and export activities.
The MOL delegation expressed interest in investment, technological cooperation, skills development and establishing a long-term partnership in Bangladesh's ship recycling sector.
Industries Secretary Abdun Naser Khan, MOL General Manager Kentaro Ueda, Global Ship Recycling Project Manager Takaha Uematsu, MOL Senior Director Senji Tokumoto and senior ministry officials, among others, attended the meeting.
