On the other hand, Shipbuilding: An industry with high risks and investment associated industry can be hope for Bangladesh because it is basically an assembling industry needing lots of labor resource. This labor resource is being considered as the most dominating factor considering the world's best shipbuilding country's economic outlook: China. China is currently the world's number 1 shipbuilding country, despite of its competitors having more advantage in shipbuilding industry. We get courage from China, as China has changed its fate with the help of population and state facility only.
It is true that Bangladesh, considering the infrastructural problems like lack of energy resource, infrastructural problems, political instability and other underlying problems, has a long way to go to achieve a industry perfect for shipbuilding. But, along with government support and industry policy transformation, there is hope for shipbuilding industry. Entry barriers for every industry seems difficult at the beginning, but such a high return industry can change the economic indention of a country within a short span of time, we have to consider that portion too.
Apart Trot Tanat, Bangles NAS ten advantage AT Delving surrounded Dye so many rivers that seaborne trade is the best way of merchandise instead of airways and roadways. Also, these ways are costly and full of other risks associated with. Country's these two big advantages can be nurtured to strengthen shipbuilding industry. In terms of solving underlying problems like electricity crises, scheduling problems, environmental issues; it is very true that without ensuring suitable and precise cuisines outlook, a country cannot grow its economic condition at all. In that case, government should have more accurate and robust policy standards.
And this is true not only for shipbuilding industry but for all types of industry. Another very important issue is high investment issue. For a poor economy like Bangladesh, the opportunity cost of starting such huge investment industry is vulnerable, but such one industry can change the whole business outlook of Bangladesh like china did. The dream of being a developed country would be not close enough if Bangladesh can start shipbuilding industry. Finally, keeping aside the problems, I think the cost of building shipbuilding industry is worth the development it is going to achieve by this... He development to better economy, development to a better country, and above of development of a better lifestyle of the people of Bangladesh. 4 1. 0 ORIENTATION TO THE REPORT Bangladesh, being a land of never and having the cost advantage in labor resources, has great prospect for shipbuilding. Shipbuilding, as a capital intensive and labor intensive industry, has numerous business opportunities. China, the largest industry leader, along with government support has en able to become the market leader because of its cost advantage. If Bangladesh can follow that trend, there is high possibility to perform well in this industry.
But there are lots of problems associated with this industry. Due to lack of proper research in this sector, Bangladesh is not overcoming the problems and reducing the entry barriers. 1. 1 Objective of the Study: The basic objective of this study is the research this sector needs to overcome the problems. Because there are so many challenges, proper research is necessary. Currently, Bangladesh has stepped into the hobbling sector considering the opportunities of economic development. There are numerous opportunities which can be achieved by shipbuilding industry.
Due to lack of research, entrepreneurs become scared of taking the risk in this industry. According to experts, in order to develop Bangladesh economically, this is the next upcoming economic contributor after garments. It is only the initial effort that this industry needs. Also, how to handle the problems in shipbuilding sector has been discussed here. All in all, in this report, the opportunity cost of starting a Shipbuilding Industry despite the challenges it is facing, are discussed. . 2 Methodology There has been lack of research in shipbuilding in Bangladesh, which is one of the reasons for not having any strong industry in Bangladesh.
I had to face problem when collecting raw data on this industry. 1. 3. 1 Primary Data: The field level data have been collected from case studies conducted by other researchers. 1. 3. 2 Secondary Data: I basically completed the report based on passed researches in shipbuilding industry such as reports from Shipbuilding Association like Garnishee Lloyd, reports of shipbuilding companies and Training Institutions, Naval Associations, Marine Academies, Shipbuilding Companies Websites and some Marine Engineering Reports Trot Department AT Marine engineering AT Bangles University of Engineering and Technology.
Also, some of the information is collected from newspaper, annual reports of shipbuilding companies, book of export-import statistics of Bangladesh, World Bank Websites etc. There were few very effective papers on Shipbuilding Industry Research from Naval Engineering Department of Bangladesh Electronics and Electrical Engineering (BUTTE), which helped me a lot to make this report. 5 Past Research Reports Journals Websites of Shipbuilding Institutions Secondary Sources Newspaper Case Study 1. 4 Limitations In Bangladesh, shipbuilding research is not up to the expected level.
Except some research reports from institutions head, access to the data regarding this industry was really hard. Most of these reports were not even open to everyone. Also, data base of shipbuilding in Bangladesh is very poor. Apart from that, due to lack of available information, centralizing the data was very difficult. And as an intern of Abdul Money, as there was no SUB of shipbuilding, I had to assume some of the information provided here which could be much more specific if they would have an industry though they had a plan to start one when I started researching on this topic.