Shipping adviser Brig Gen (retd) Dr. M Sakhawat Hussain said currently there is a conducive environment of investment in the country's shipping sector and now all the investment procedures are done in transparently and openly.
The Adviser urged Singapore to invest in port infrastructure development including shipping industry in Bangladesh. Brig Sakhawat made the remarks while addressing a bilateral meeting with Acting Singaporean Minister for Transport Jeffrey Siow in Singapore this morning, a ministry press release said here.
“Singapore can invest in port infrastructure development including potential shipping sector of the country”, he added.
At the meeting, Dr M Sakhawat Hussain also informed the Singaporean Transport Minister about different development project undertaken by the Shipping Ministry.
He also sought cooperation from Singapore on technological advancement and exchanging experience of port infrastructure construction and management.
The adviser said Singapore has excellent experience in port Infrastructure construction and management, adding that Singapore may invest in infrastructure development in important ports including different ports of Bangladesh, Bay terminal construction project, shipyard construction in Matarbari deep sea port and modernization of Mongla sea port.
Dr Sakhawat said the World Bank has given approval of a loan amounting to US$65 million to Bangladesh for construction of Bay terminal under Mega extension project at Chattogram port.
If the terminal is constructed, then it will enhance the capability global trade competition of Bangladesh as the import and export expenditure will mostly reduce due to enhance of the port capacity.
Even the adviser also expressed hope that an agreement likely to be signed with Singapore for construction of Bay Container Terminal by October.
He also requested the Singapore government for construction of International standard shipyard or dockyard at Matarbari deep sea port or any other places in Bangladesh.
The Transport minister of Singapore also assured the adviser about it.
