Blue economy programmes to add $206b by 2028: Bangladesh Oceanographic Research Institute

• Mineral resources like heavy minerals and titanium oxide have significant economic potential
•  A new crab farming method could generate $30 million annually
• The long-term plan focuses on using advanced technologies for data collection and resource exploration
• The plan also aims to develop mariculture, improve salt production, and explore marine energy sources like wind and tidal power
• Collaboration between government, research institutions, and the private sector is seen as crucial for success

The Bangladesh Oceanographic Research Institute (BORI) is making significant progress in developing the country's blue economy, with research programmes projected to add a substantial boost to the national GDP.

According to a paper presented by Md Zakaria, senior scientific officer at the Geological Oceanography Division of the institute, successful implementation of these short, medium, and long-term programmes could see an indirect contribution of $206 billion to the economy by 2028. 

This impressive figure represents nearly half (46%) of Bangladesh's current GDP of $446.3 billion, Zakaria said.

The information was presented today at a seminar on "Research and Planning for Blue Economy Development" organised by the Oceanographic Research Institute at the Multipurpose Hall of the National Science and Technology Complex in Agargaon, Dhaka

Zakaria highlighted the institute's ongoing efforts towards realising the blue economy's potential. He emphasised the importance of evaluating the economic value of research findings, increasing public and private investment, and establishing a pathway for commercial production.

The paper detailed a 10-year plan adopted upon Oceanographic Research Institute's establishment in 2017. This plan outlines a strategic approach to blue economy development from 2018 to 2028. The short-term plan was implemented from 2018 to 2020, followed by the mid-term plan concluding in 2023. Currently, activities for the long-term plan's execution by 2028 are underway.

Zakaria pointed out the potential of mineral production, including heavy minerals, titanium oxide, pure silica, and rare minerals. He suggested that the economic value derived from these resources could nearly match Bangladesh's current GDP.

The institute has also developed a promising method for marine crab farming, with the potential to generate $30 million in annual revenue.

Zakaria said that baseline data covering an area of approximately 8,000 square kilometres from St Martin to Feni was collected between 2020 and 2022. However, due to the absence of a research vessel, data collection was conducted in shallow areas using fishing trawlers.

Research findings revealed a significant presence of heavy minerals, ranging from 8% to 18%, in the Cox's Bazar sea area.

What is included in the long-term plan 

The long-term plan involves using Artificial Intelligence and Remote Sensing to collect baseline data on physical and oceanographic aspects. This helps monitor phytoplankton biodiversity and chlorophyll concentrations in coastal areas. It also includes creating regional ocean models.

Additionally, the plan includes gathering baseline data on geological oceanography and identifying mineral resources. It aims to use marine minerals for production and metal processing. 

It also involves listing edible marine and non-marine fish species, evaluating seafood quality, and promoting their consumption.

Furthermore, the plan includes researching marine energy for renewable energy production, establishing offshore windmills, and identifying locations for wind and tidal energy production. 

It also aims to increase fish production through mariculture and improve salt production using advanced technology.

The chief guest of the seminar, Minister of Science and Technology Architect Yeafesh Osman, stressed the importance of researching topics like fish, the environment, and sea routes. He emphasised serving the country and nation selflessly.

In his keynote address, Rear Admiral (retd) Md Khurshed Alam, secretary, Ministry of Foreign Affairs, highlighted how research can attract investment and contribute to commercial production. He emphasised the need for technological advancement and government support. 

Khurshed Alam further stressed the importance of integrating research efforts using technology. 

The event was chaired by Prof Towhida Rashid, director-general of the Oceanographic Research Institute, who noted that systematic work is underway with government support but emphasised the need for increased funding and research efforts.