Maheshkhali Integrated Development Authority (MIDA) has announced a series of measures to strengthen Bangladesh’s deep-sea fishing and Blue Economy sector.

Key decisions include timebound approvals for deep-sea fishing licences, streamlined jetty development in Cox’s Bazar, bond facilities for 100 per cent export-oriented seafood processing, and investor-friendly arrangements for scallop, tuna, vannamei, and salmon.

The measures also cover allocation of coastal land for mariculture, special incentives such as reduced electricity tariffs, and mandatory registration of all sea-going fishing vessels to combat illegal, unreported, and unregulated fishing.

The announcement followed a high-level stakeholder consultation convened by MIDA with senior officials from key government agencies involved in the Blue Economy sector on October 13.

Chaired by MIDA Executive Chairman Ashik Chowdhury, the meeting focused on an integrated action plan to promote deep-sea fishing, mariculture, 100 per cent export-oriented seafood processing, aquaculture, and marine fisheries research across Bangladesh’s maritime areas.

MIDA Executive Member Commodore Tanzim Faruq presented a detailed framework outlining regulatory, logistical, and investment measures, while Executive Member Md Sarowar Alam emphasised the need for 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 now receiving national priority, and this focus will continue,’ said Ashik Chowdhury.

He said that following consultations with the Chief Adviser, deep-sea fishing had been added as the fourth pillar, alongside industrialisation, energy hub development, and the deep-sea port.

Ashik said that MIDA had been created to coordinate and catalyse these developments, but that the driving force would be the ministries and agencies overseeing the sector, and that the meeting had focused on concrete actions, including facilitating anchor investors and building an investment ecosystem for specific sub-sectors within the Blue Economy.

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 attended the session at BIDA’s Conference Room.

The participants outlined the policy, infrastructure, and investment requirements needed to fast-track growth in the sector.