In a recent meeting held at Biniyog Bhaban in Agargaon, the Maheshkhali Integrated Development Authority (Mida) has suggested that seafood processors engaged in exports should be permitted to utilize bond license facilities for importing duty-free raw materials. This initiative aims to enhance Bangladesh’s blue economy sector significantly.
The gathering, which involved senior representatives from various government bodies, focused on formulating a comprehensive strategy to boost activities related to deep-sea fishing, mariculture, seafood processing, aquaculture, and marine fisheries research. Chaired by Mida’s Executive Chairman Ashik Chowdhury, the meeting highlighted the need for immediate regulatory and infrastructural enhancements to attract investments and foster sustainable growth within the blue economy value chain.
Chowdhury emphasized the pivotal role of deep-sea fishing in Maheshkhali’s development, alongside industrialization, energy hub expansion, and the deep-sea port. While Mida will oversee the coordination and advancement of these initiatives, the execution will be carried out by relevant ministries and agencies.
The proposal put forward by Mida includes the implementation of bond license facilities to boost the competitiveness of seafood processors in global markets. This move is expected to bolster Bangladesh’s position as a key player in marine exports, particularly focusing on value-added products like scallops, vannamei shrimp, tuna, and salmon.
During the meeting, Tanzim Faruq, an executive member of Mida, outlined a comprehensive framework encompassing regulatory, logistical, and investment reforms. Key discussions also revolved around expediting approvals for longliners and support vessels, issuing deep-sea fishing licenses to attract major investors, and simplifying clearance procedures to facilitate deep-sea trawler operations in Khurushkul, Cox’s Bazar.
To expedite processes related to import, processing, and re-export of high-value seafood species, an online approval system was proposed. Additionally, regulatory permits for processing and exporting local bycatch were recommended. Participants also suggested allocating coastal land to support the expansion of mariculture endeavors.
In a bid to encourage investments further, special schemes such as reduced electricity tariffs for shrimp and seafood industries were endorsed to reduce operational costs and enhance export competitiveness. The meeting also proposed the mandatory registration of all seagoing fishing boats and trawlers to combat illegal fishing practices.
Mida confirmed its commitment to compiling the recommendations into a detailed implementation plan, with regular follow-ups to ensure seamless collaboration among stakeholders. Representatives from various ministries, including fisheries and livestock, commerce, and environment, along with officials from the National Board of Revenue, the Bangladesh Economic Zones Authority, and the Cox’s Bazar district administration, were present at the meeting.