MIDA Convenes High-Level Stakeholder Meeting on Deep Sea Fishing and Blue Economy Development

Stagg Reporter: The Maheshkhali Integrated Development Authority (MIDA) today convened a high-level stakeholder consultation with key officials from government agencies involved in Bangladesh’s Blue Economy sector.

Chaired by MIDA Executive Chairman Ashik Chowdhury, the meeting focused on an integrated action plan to advance deep-sea fishing, mariculture, 100% export-oriented seafood processing, aquaculture, and marine fisheries research in Bangladesh’s maritime area and beyond.

MIDA Executive Member Commodore Tanzim Faruq presented the detailed framework, outlining regulatory, logistical, and investment measures. MIDA Executive Member Md. Sarowar Alam stressed the urgency of timely policy reforms to unlock opportunities in this high-growth sector.

“It is a universally accepted view that Maheshkhali holds immense potential, particularly due to its strategic geographic location. It is receiving due importance now as a national priority and this will continue in the future. Following consultations with the Honorable Chief Adviser, we have added deep-sea fishing as the fourth pillar—alongside industrialization, energy hub development, and deep-sea port,” said Ashik Chowdhury.

“MIDA has been created to coordinate and catalyze these developments, but the engine will be the ministries and agencies driving this mother sector. Today we focused on concrete actions—facilitating anchor investors and building an investment eco-system for specific sub-sectors within Blue Economy.”  he added
 

Key decisions from the meeting include:
1.    Timebound approval of long-liner and support vessels, and issuance of deep-sea fishing licenses for anchor investors.
2.    Streamlined clearance for jetty development in Khurushkul, Cox’s Bazar, to support deep-sea trawlers.
3.    Bond license facilities for 100% export-oriented seafood processing to enable duty-free raw material imports.
4.    Investor-friendly import, processing, and re-export arrangements for scallop, vannamei, tuna, and salmon, supported by an online approval system to eliminate delays.
5.    Regulatory permits for processing and exporting local bi-catch.
6.    Allocation of coastal land to scale up mariculture initiatives.
7.    Special incentive schemes, including reduced electricity tariffs, for shrimp and seafood industries.
8.    Registration of all sea-going fishing boats and trawlers for the prevention of Illegal, Unreported, and Unregulated (IUU) fishing activities.

Senior officials from the Ministry of Fisheries and Livestock, Ministry of Commerce, Ministry of Environment, Forest and Climate Change, National Board of Revenue, Bangladesh Economic Zones Authority (BEZA), and the Cox’s Bazar District Administration joined the session at BIDA’s Conference Room. Participants outlined the policy, infrastructure, and investment requirements necessary to fast-track growth in the sector.

MIDA will consolidate today’s outcomes into an integrated implementation roadmap, to be advanced through regular coordination with all relevant stakeholders.

BB/Shamim//