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The government has set an export target of $4.0 billion dollars for the country's shipbuilding industry by 2025.
In order to help the sector reach the target, the cabinet recently approved ‘Ship Construction Industry Development Policy, 2020’, reports Xinhua.
Bangladesh currently makes around 1 billion US dollars through exporting ships.
During the cabinet meeting on Monday, Prime Minister Sheikh Hasina has asked for establishing a new mega ship-building yard in the country.
“All required measures will be taken to bolster the sector's development from now on in line with the new policy,” said Cabinet Secretary Khandaker Anwarul Islam.