Rahmatullah Miah: Japan’s leading shipping company Mitsui O.S.K. Lines (MOL) has expressed keen interest in investing in Bangladesh’s growing ship recycling industry and extending technological support to help develop the sector.

The Japanese company also wants to establish a long-term partnership with Bangladesh focusing on environmentally friendly ship recycling, technology transfer and the development of skilled workers, according to a press release.

A high-level MOL delegation conveyed the interest during a meeting with Industries, Commerce and Textiles and Jute Minister Khandakar Abdul Muktadir at the Ministry of Industries in Dhaka on Wednesday.

The meeting comes at a time when Bangladesh is seeking to modernise its ship recycling industry and use the sector as a stepping stone towards developing a stronger shipbuilding industry.

During the meeting, Minister Muktadir said ship recycling and shipbuilding could become important drivers of 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 already one of the world’s major ship recycling countries. The country has developed considerable experience in the sector over the years, supported by a large workforce and related infrastructure.

The minister said around 31 green ship recycling facilities are currently operating in Bangladesh. The government plans to increase the number to 100 or more in the coming years.

The expansion is expected to create more opportunities for investment, employment and the adoption of safer and more environmentally responsible recycling practices.

The government’s vision, however, goes beyond dismantling and recycling old vessels.

Muktadir said Bangladesh wants to use its existing expertise in ship recycling to establish a strong foundation for the development of the country’s shipbuilding industry.

Japan could play an important role in this transition, he said, given its advanced technology, management expertise and long experience in shipbuilding and maritime industries.

“Through mutual trust and cooperation between Bangladesh and Japan, it is possible to transform the ship recycling and shipbuilding sectors into an integrated and strong industrial base,” the minister said.

Such cooperation could allow Bangladesh to benefit from Japanese technology and expertise while strengthening the skills of local workers.

The minister also pointed out that cooperation in the maritime sector is important for Japan, whose economy is heavily dependent on maritime trade.

Bangladesh’s maritime transport and shipbuilding sectors are also closely connected with the country’s wider economy. Ships are vital for transporting raw materials, supporting industrial production and carrying export goods to international markets.

Investment by a major Japanese shipping company such as MOL could therefore open the door to wider cooperation in technology, management, training and environmentally sustainable industrial practices.

The MOL delegation reaffirmed its interest in investing in Bangladesh’s ship recycling sector and cooperating in technology transfer and skills development. It also expressed its intention to build a long-term partnership with Bangladesh.

For Bangladesh, attracting investment into environmentally friendly ship recycling is particularly significant. Modern ship recycling requires proper handling of hazardous materials, improved worker safety and better environmental management.

Japanese technical expertise could help Bangladeshi facilities adopt more advanced practices and improve their ability to meet international standards.

The proposed cooperation could also help Bangladesh develop a larger pool of skilled workers, enabling them to handle increasingly sophisticated technologies and industrial processes.

The meeting signals a potentially important new phase in Bangladesh-Japan economic cooperation, particularly in the maritime sector.

If the proposed investment and technological partnership materialise, Bangladesh could gain not only additional investment but also access to advanced expertise and international best practices.

For a country with a large workforce, expanding industrial base and growing trade needs, developing ship recycling alongside shipbuilding could create jobs, strengthen industrial capacity and increase export potential.

The meeting was attended by Industries Secretary Abdun Naser Khan, MOL General Manager Kentaro Ueda, Global Ship Recycling Project Manager Takaha Uematsu, MOL Senior Director Senji Tokumoto and senior officials of the Ministry of Industries.