Sakhawat seeks WB investment in jute, shipbuilding sectors

Shipping, Jute and Textiles Adviser Brig Gen (Retd) Dr. M Sakhawat Hussain on Wednesday called upon the World Bank (WB) to invest in Bangladesh's jute and textiles sectors and shipbuilding industry.

"Jute and shipbuilding are enormously potential sectors . . . more investment and research are needed to pull the sectors," he said.

The adviser made the call while WB Country Director for Bangladesh and Bhutan Abdoulaye Seck met him at his office in Ministry of Jute and Textile, said a ministry press release, reports BSS.

He said a huge demand for jute, especially eco-friendly jute bags and geo-textile multi-purpose jute products, has been appeared both at home and abroad instead of the alternative of polythene and plastic.

Sakhawat Hussain said that government-owned 25 jute mills and 25 textile mills were shut down a few years back but those mills are being run under private management with the help of domestic and foreign investors.

Mentioning that the factories are strategically situated in locations very convenient for communication, he said that international investors can invest here very easily as textile and garment industries of Bangladesh are gradually improving.

Referring to the world famous muslin cloth, the adviser said that the muslin cloth of Bangladesh was once world-famous, and the government has already completed a project to bring back the lost glory of muslin.

"Through this project, the technology of producing yarn for waving muslin cloth has been invented and there are plans to start commercial production soon," he added.

He also emphasized on more investment and research in the production of versatile jute goods and textile products to advance the country's economy.

In the meeting, Sakhawat Hussain said that shipbuilding has appeared as one of the promising industries in recent years, mainly due to export of locally built ships.

The WB country director congratulated the interim government and said that they are interested in working together with Bangladesh in new projects in all sectors including jute, textiles and shipping.

In the meeting, the progress of various development projects being implemented with the cooperation of the WB was reviewed and the adviser gave instructions to the concerned officials to complete the ongoing projects on time.

Textiles and Jute Secretary Md. Abdur Rauf, Acting Shipping Secretary Sanjay Kumar Banik and senior officials concerned were present.