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

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

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

MIDA Executive Member Commodore Tanzim Faruq presented a detailed framework highlighting regulatory, logistical, and investment strategies, while Executive Member Md. Sarowar Alam emphasized the need for timely policy reforms to unlock opportunities in this emerging high-growth sector.

Ashik Chowdhury said, “It is a universally accepted view that Maheshkhali holds immense potential due to its strategic geographic location. It is receiving due importance 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.”

He added, “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 ecosystem for specific sub-sectors within the Blue Economy.”

Key Decisions from the Meeting

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.

5. Regulatory permits for processing and exporting local by-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 to prevent 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 participated in the session held at BIDA’s Conference Room.

Participants outlined the policy, infrastructure, and investment requirements necessary to fast-track the sector’s growth. MIDA will consolidate the meeting outcomes into an integrated implementation roadmap to be advanced through regular coordination with all relevant stakeholders.