Govt sets aside Tk 200 crore for blue economy research, development

The government has proposed allocating Tk 200 crore to support research, innovation and development activities in Bangladesh's blue economy.

Of the total amount, Tk 100 crore has been earmarked for a "Blue Economy Research Fund", while the remaining Tk 100 crore will be allocated for the development of the blue economy, according to the budget proposal for the next fiscal year.

The allocation comes as the government seeks to tap marine resources and increase fisheries exports to $1 billion by 2030, up from around $450 million recorded in fiscal year 2024-25.

In his budget speech, Finance Minister Amir Khosru Mahmud Chowdhury said the government has adopted a plan to operate commercial vessels for harvesting tuna and other pelagic fish in deep-sea waters and to expand seaweed cultivation in order to promote marine-based economic activities.

To strengthen marine conservation efforts, Kuakata and Salimpur will be declared new marine protected areas, while a modern fishing port will be established at Matarbari to ensure the sustainable use of marine resources.

The government is also implementing a project to upgrade the Bangladesh Fisheries Development Corporation's fish landing centre in Cox's Bazar to support the optimal utilisation of marine resources.