Experts urge stronger governance to unlock Bangladesh's blue economy potential
Policy experts say a comprehensive legal framework, stronger institutional coordination and science-based policymaking are essential to harness the country's vast marine resources.
Highlights:
- Experts seek national blue economy strategy
- Stronger legal framework, coordination urged
- Public-private partnerships encouraged for investment
- Ocean economy seen as key growth driver
Stakeholders and policy experts have urged the government to make the blue economy a national priority, calling for stronger governance, a comprehensive legal framework and greater inter-ministerial coordination to unlock Bangladesh's vast ocean-based economic potential.
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The call came at a policy dialogue titled "National Stakeholder Consultation on Blue Economy Governance in Bangladesh", held yesterday (13 July) at the Doyel Seminar Hall of SIMEC Institute of Technology in Uttara.
The consultation was organised by the Blue Economy Think Tank and chaired by Prof S M Shameem Reza of the Department of Mass Communication and Journalism at the University of Dhaka.
Speakers said Bangladesh's marine resources present significant opportunities to boost sustainable development and economic growth, provided the sector is supported by effective policies, institutional collaboration and scientific research.
They called on the government to formulate a comprehensive national strategy and legal framework for the exploration, utilisation and sustainable management of marine resources.
Participants also stressed the need to strengthen coordination among ministries and foster closer collaboration between government agencies, research institutions and other stakeholders involved in the sector.
The discussants said policymakers and researchers with specialised expertise in the blue economy should play a leading role in designing and implementing policies.
They also highlighted the importance of public-private partnerships in attracting foreign investment and accelerating sustainable economic development through the responsible use of marine resources.
Among those attending the consultation were Bangladesh Investment Development Authority (BIDA) Director General (Investment Promotion) Jibon Krishna Saha Roy, Prime Bank Deputy Head of Sustainable Finance Fareba Naz Shaule, Executive Officer Sharmin Akter Shetu, SIMEC Group Executive Director Foara Yasmin, BRAC University Assistant Professor Ratan Kumar Roy, Port City University Senior Lecturer Md Nurul Amin, Maasranga Television Special Correspondent Noor-un-Nahar Weely, Australia Awards 2024 alumni, and faculty members and researchers from public and private universities.
The consultation was organised under the Australia Awards - Driving Change: Alumni Grants for Innovation initiative, which aims to promote knowledge-sharing on the blue economy and strengthen stakeholders' capacity to support sustainable ocean governance in Bangladesh.
