Construction of netloft making factory begins

Construction of netloft making factory begins
A Z M Anas

Chittagong, Apr 12: The country’s move toward modernising its deep-water fishing got a boost after a Bangladeshi company tied up with its Danish counterpart to manufacture advanced fishing equipment here.

Sea Resources Ltd (SRL) of Bangladesh and Cosmos Trawl Ltd of Denmark have started building a state-of-the-art netloft making factory in the port city of Chittagong to make sure the catch of fish resources abundant in the Bay of Bengal is more efficient without harming future stock.

“The joint venture is an example … how the private sector can show the new way of doing business,” Danish development minister Soren Pind said today while inaugurating the construction of factory premises on the bank of the Karnaphuli.

The latest effort came as outdated and inefficient methods and equipment handicapped Bangladesh’s deep-water fishing for decades, resulting in lower fish catch and low profitability among local fisheries companies.

The minister said the Danish technology and know-how would play a critical role in helping Bangladesh change the way fishing is done in Bangladesh.

Mr Pind, now on a trip to Bangladesh and is leading a 12-member Danish business team, said Danish investors are exploring the potential for investment in Bangladesh and is keen to capitlaise on what he called “competitive labour force.”

Over the years, he said, the Danish business engagement in Bangladesh has increased in many areas, from mere grants and loans support.

Mr Pind said a 21-member Danish business team came in November last to seek investment opportunities in shipbuilding and fisheries.

He said Bangladesh has “great potential” for growth and it has also been labelled as “one of the frontier five” by JP Morgan and among the seven hottest emerging markets by Investor Chronicle.

Chittagong city mayor ABM Mohiuddin Chowdhury and Ambassador of Denmark in Dhaka Einer H Jensen, chairman of SRL MA Rouf Choudhury and managing director of SRL-Cosmos Trawl Ltd Lars Jensen also spoke at the inaugural.

The joint venture is part of Denmark’s B2B programme, which has been operational since 2008 for the Bangladeshi fishing and shipbuilding industry.

source:http://www.thefinancialexpress-bd.com/more.php?news_id=97530&date=2010-04-13