Local equipment manufacture
The news report published in a local English-language daily on March 6 about setting up of manufacturing facilities for hydraulic machinery in Bangladesh was the best and the most important news of the day for us in Bangladesh. It was refreshing to know of something constructive coming up, amidst the usual news of local problems and politicians’ stale talks that fill the pages.
The (50:50) joint venture with overseas manufacturer will produce hydraulic equipment both for inland and seagoing vessels. It will add to our expertise and open a new portfolio for export. Normally it will start with minimum local components but being in the private sector, it should incorporate substantial percentage of locally manufactured components, say, in five years.
Congratulation goes to Western Fishers Shipyard Ltd for this initiative.
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