The government is stepping up efforts to unlock the vast potential of the Bay of Bengal's marine resources, aiming to boost economic growth, diversify exports, and generate employment through a series of comprehensive policy reforms and strategic initiatives.

Along with formulating new policies and guidelines for marine aquaculture, crab production, deep-sea fishing, and oceanographic research, the government is placing a renewed focus on offshore oil and gas exploration in the seabed.

Despite its strategic geographical location and an abundance of marine wealth, Bangladesh has yet to achieve significant progress in commercial deep-sea fishing or offshore energy exploration, lagging behind neighboring nations such as India and Myanmar.

According to experts, effective policy implementation, adoption of modern technologies, scientific research, and strengthened oversight could transform the country’s marine resources into a major driver of economic development.

To ensure sustainable management of marine assets, increase fish production, and expand investment in ocean-based industries, the government has drafted several framework policies and operational guidelines.

These measures aim to enable commercial resource exploitation while safeguarding marine biodiversity and ensuring long-term ecological sustainability.

Offshore Energy Exploration & PSC Restructuring
Abdul Mannan, Chairman of the Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), stated that offshore exploration proposals have been invited for all 26 maritime blocks under significantly relaxed terms and conditions.

He expressed optimism regarding potential offshore natural gas discoveries, citing recent reserves confirmed in the coastal regions of Bhola and Feni.

Under the Bangladesh Offshore Bidding Round 2026, a updated structural framework is being finalized to supersede the Model Production Sharing Contract (PSC) 2024.

The new model introduces revised gas pricing mechanisms, pipeline construction assistance, and additional financial incentives for investors in the event of commercially unsuccessful exploration attempts.

Dr. Md. Rafiqul Islam, Chairman of the Bangladesh Petroleum Corporation (BPC), noted that the Ministry of Power, Energy and Mineral Resources is working across multiple fronts to harness the blue economy.

Discovering new gas reserves through offshore exploration would yield immense economic benefits for the nation, he added, emphasizing the energy sector's central role in the maritime strategy.

Sustainable Fisheries & Aquaculture Policy
To ensure the sustainable utilization of marine resources, the government has drafted the Marine Aquaculture (Mariculture) Policy. The draft identifies marine aquaculture as a high-potential sector capable of enhancing food security, driving export earnings, and creating jobs.

According to a June 2026 report by the Food and Agriculture Organization (FAO), Bangladesh ranks second globally in inland capture fisheries from rivers, lakes, and wetlands, and fifth in aquaculture production.

Data from the Bangladesh Economic Review 2025 reveals that total domestic fish production rose to 5.255 million metric tons in the 2024–25 fiscal year, surpassing the country's annual national demand of approximately 5 million metric tons.

Officials from the Ministry of Fisheries and Livestock stated that the proposed mariculture policy focuses on expanding marine aquaculture, attracting investment, modernizing production technology, and protecting marine ecosystems.

Once implemented, the framework will create opportunities beyond traditional coastal fishing, paving the way for seaweed cultivation, marine invertebrate farming, and other ocean-based commercial enterprises.

In tandem, the government has prepared the draft Sustainable Crab Production, Harvesting, Management, and Export Guidelines 2026 to bring structure to the crab sector.

The draft prioritizes biodiversity protection, improved cultivation methods, post-harvest loss reduction, cold chain infrastructure development, value-added product processing, and multi-stakeholder coordination.

Adopting advanced farming and harvesting techniques is expected to raise product quality and enhance Bangladesh's competitiveness in international markets.

Furthermore, the Department of Fisheries has drafted the Deep-Sea Fishing Guidelines 2026 to regulate Bangladesh-flagged fishing vessels operating in international waters beyond the Exclusive Economic Zone (EEZ).

The guidelines cover vessel licensing, catch documentation, transshipment regulations, traceability, maritime surveillance, crew safety, and law enforcement. They also place strong emphasis on curbing Illegal, Unreported, and Unregulated (IUU) fishing in compliance with domestic laws and international treaties.

Experts view these guidelines as a foundational step toward expanding Bangladesh's fishing presence in international waters.

However, they emphasize that successful implementation will require robust Vessel Monitoring Systems (VMS), scientific stock assessments, catch capacity controls, and effective maritime patrols.

Biodiversity Conservation & Export Targets
Alongside resource extraction, the government is expanding marine conservation efforts. Through official gazette notifications, two new Marine Protected Areas (MPAs) have been designated in Kuakata and Salimpur, bringing the country’s total count of declared MPAs and marine reserves to seven.

These protected zones aim to restore fish stocks, preserve critical habitats, and ensure long-term fishery sustainability.

Simultaneously, the government has set an ambitious target to raise annual export earnings from fish and fisheries products to $1 billion by 2030, up from approximately $450 million recorded in the 2024–25 fiscal year.

To support research and development in the blue economy, the government allocated ৳200 crore in the current fiscal year's budget, including a dedicated ৳100 crore research fund.

Maritime Infrastructure & Industrial Horizons
Offshore energy exploration remains another major frontier for the blue economy. The government has entered into new production-sharing arrangements for offshore oil and gas exploration while planning targeted drilling campaigns to boost domestic gas production.

Highlighting sector opportunities, Minister for Shipping, Railways, and Road Transport & Bridges Sheikh Rabiul Alam recently detailed ongoing efforts to expand capacity at Chittagong and Mongla ports, construct the Matarbari Deep Sea Port, and upgrade operational efficiency at Payra Port.

Additionally, State Minister for Planning Md. Jonaid Abdur Rahim Saki stated that the government plans to drill 150 onshore gas wells, with 30 wells targeted for the current fiscal year, three of which have already commenced operations.

Beyond energy and fisheries, Bangladesh holds significant potential in shipbuilding, ship repair and recycling, port management, maritime logistics, and ocean-based service industries.

Harnessing these sectors will require strengthening multimodal connections between ports and industrial hubs, expanding infrastructure, building a skilled workforce, and driving private investment.

Moving from Policy to Execution
Translating vast marine potential into tangible economic growth requires moving from policy formulation to strict implementation. This demands seamless coordination among government agencies, universities, research institutions, and the private sector.

Key priorities include gathering reliable oceanographic data, fostering scientific research, ensuring equitable resource management, and creating an investor-friendly environment.

While draft policies on mariculture, crab production, deep-sea fishing, expanded MPAs, and research grants establish a solid framework, the overarching challenge lies in enforcement, attracting domestic and foreign direct investment, and building scientific capacity.

Overcoming these hurdles will be vital if Bangladesh's marine assets are to play a transformative role in export earnings, energy security, job creation, and sustainable economic development.