Doha:The government is intensifying its efforts to harness the potential of the country's blue economy through various policy initiatives. These initiatives focus on sustainable marine fishing, mericulture, crab farming, deep-sea fishing, and marine research. Offshore energy exploration is highlighted as a key area needing further investment and technical expertise.
According to Bangladesh Sangbad Sangstha, Bangladesh's strategic location along the Bay of Bengal offers rich marine resources. However, the country has yet to achieve significant progress in commercial deep-sea fishing and offshore oil and gas exploration compared to neighboring countries India and Myanmar. Experts emphasize that effective implementation of policies, modern technology, scientific research, and robust regulatory oversight are crucial for transforming the maritime sector into a major economic growth driver.
The government has developed several draft guidelines and policy initiatives aimed at enhancing marine resource management, boosting fisheries production, and expanding investment in maritime industries. These measures aim to balance commercial exploration with the conservation of marine biodiversity and the sustainable use of ocean resources.
Petrobangla Chairman Abdul Mannan stated that exploration offers have been made for all 26 offshore blocks under a more relaxed framework. With gas reserves already found in Bhola and Feni, the government remains hopeful about discovering additional reserves offshore. The Bangladesh Offshore Bidding Round 2026 will replace the Model PSC 2024, introducing significant revisions to the country's offshore production-sharing framework.
Dr. Md Rafiqul Islam, Chairman of Bangladesh Petroleum Corporation, noted the Ministry of Power, Energy, and Mineral Resources is working on various initiatives to leverage the blue economy's vast potential. He highlighted the significant prospects in the energy sector under these initiatives.
The draft National Mericulture Policy identifies marine aquaculture as a potential source of food security, export earnings, and employment. The government has also drafted guidelines on sustainable crab production to enhance practices, protect biodiversity, and increase export earnings. Meanwhile, the draft High Seas Fishing Guidelines aim to regulate fishing vessels operating beyond the exclusive economic zone to ensure compliance with national and international fisheries requirements.
Marine conservation efforts have also been bolstered with the declaration of two new marine protected areas at Kuakata and Salimpur, increasing the number of protected areas to seven. These measures are part of the government's ambition to raise fisheries exports to $1 billion by 2030.
In the offshore energy sector, a new production-sharing contract has been signed to boost domestic gas production. The government plans to drill 150 onshore gas wells, with 30 scheduled for the current fiscal year.
To realize these ambitions, Bangladesh must translate policy proposals into actionable outcomes. This will require coordination among government agencies, research institutions, and the private sector to improve resource management and attract investment.