It is encouraging to note that the government has framed new strategies to harness the potential of blue economy addressing how and in what way the ocean-based industries such as shipping, fisheries, energy and minerals, seaports, tourism, and marine biotechnology can contribute to the country’s economic growth.
As reported by this daily on Monday, the General Economics Division (GED) has determined 10 strategies and identified five challenges to explore the potentials of blue economy in an efficient way. Reportedly, the challenges identified in the plan include lack of investment and inadequate role of the private sector, and lack of knowledge and determination of marine resources, maritime and coastal development structures, and related human resources.
There is an abundance of resources under the ocean that need to be tapped prudently to fuel our economic growth. Ocean selflessly offers its bounty to us but we in Bangladesh have not been able to exploit the abundance of treasure beneath it.
We hope the government and its departments
concerned will involve private sector in their
coastal development and management plan
Data show that Bangladesh has 1, 18,813 square kilometres of maritime area and more than 30 million people directly depend on oceanic economic activities like fisheries and commercial transportation. But still Bangladesh is lagging behind in exploiting its blue economy potential due to lack of technology and efficient manpower. Also Bangladesh has not been able to conduct adequate survey to learn and identify maritime resources.
We must nurture what we have and in order to do that we need to learn and identify the amount of resources available in the sea. In this regard, intervention of new technology and support of adequate and quality research are pertinent. Also for harnessing the full potential of blue economy, stepping up by the private sector has become more than a necessity. It is envisaged that the private sector can play a crucial role in improving country’s maritime research and surveys. We hope that the government and its departments concerned will involve private sector in government’s coastal development and management plan. Last but not least, Bangladesh needs to leverage conservation and utilisation of marine and coastal eco-systems in an efficient manner.