Shipbuilding was once a flourishing trade along the coast of Bengal 400 years ago. Countries flocked to her shipyards to get the best wooden commercial and military ships available at the time. However, with the advent of the industrial revolution, the shipbuilders of Bengal lagged behind in the fabrication of the primary new construction material that was sweeping the world, namely steel. As a result of this lack of skill, Bengal rapidly lost her position amongst the great shipbuilders in the world. Today, Bangladesh has resumed the process of inheriting that lost heritage of shipbuilding. Being a young shipbuilding country of only 2 decades, Bangladesh has already started making ripples in the international shipbuilding market by fetching handsome orders from as far away as Europe and Africa. The prospects for future growth, based on industry analysis of the key forecasting variables, can only be labelled as positive. However, a lack of skilled shipbuilding personnel is hindering Bangladesh‟s chances in the global industry. This policy paper has presented numerous recommendations spanning the provision of „specialised training to foster the development of local human resource‟ to „recruitment of foreign skilled personnel‟ as means for supplying the local demand for skills. Additionally, joint industry action in areas such as training centres, university course development and labour supply forecasting has been promoted.