Blue Economy is the new potential sector of investment in Bangladesh. If the existing barriers are removed, billions of dollars can be earned from this sector in the next few years. The speakers expressed this optimism at the seminar titled ‘Blue Economy: Prospective Economic Engagement in Bangladesh’ organised by Bangladesh Investment Development Authority (BIDA) on Monday (1 August).
The Executive Chairman of BIDA Md. Sirajul Islam was present as the chief guest at the seminar. Secretary of Maritime Affairs of the Ministry of Foreign Affairs Rear Admiral (Retd.) Md. Khurshed Alam presented the keynote.
During the presentation of the keynote, the Secretary of the Maritime Affairs Unit of the Ministry of Foreign Affairs, Rear Admiral (Retd.) Md. Khurshed Alam said that the total area of the sea border of Bangladesh is 664 km. But fish is harvested only within 60 km. In 2012, the ownership of the sea border was established, but the marine resources, including oil and gas, are still out of reach. Although several plans were made in this regard, they did not see the light of day. But Myanmar has already started extracting mineral resources next to Bangladesh’s sea block.
He also said that not only fish or mineral resources but the sea within our borders can be used to change the image of the entire economy of Bangladesh. Various industries including tourism, shipbuilding, and building vessels suitable for deep-sea fishing, containers, medicine, and cosmetics can be developed by utilising the marine economy.
In the seminar, the Executive Chairman of BIDA Md. Sirajul Islam advised the concerned departments to prepare the policies properly and reform the existing policies quickly to create simple investment-friendly policies. At this time, he discussed the sectors of the Blue Economy and said each sector should be highlighted.
President of MCCI Md. Saiful Islam asked government policymakers to take advice from private sector experts in formulating policies. During this time he discussed fishing and the expansion of the shipping industry.
