B Mirror Report: The Maheshkhali Integrated Development Authority (MIDA) has proposed establishing a dedicated Shrimp Economic Zone to ensure sustainable expansion of Bangladesh’s shrimp sector one of the country’s key export earners and to elevate exports to a billion-dollar market.

The proposal was formally presented at a stakeholder meeting held on Sunday at the Bangladesh Investment Development Authority (BIDA) conference room in Agargaon, Dhaka. The meeting, chaired by MIDA Executive Chairman Ashik Chowdhury, was attended by representatives from various ministries, regulatory bodies, industry associations, and international development partners, according to a BIDA press release issued .

Officials at the meeting said Bangladesh earned $388.7 million from frozen fish and shrimp exports in the 2024–25 fiscal year, of which shrimp alone contributed about 76 percent, or $296.3 million. Shrimp export earnings grew by 19 percent over the past year, highlighting the sector’s strong potential for export diversification beyond garments.

The keynote paper was presented by MIDA Executive Member Commodore Tanzim Faruk, who emphasized shifting from traditional methods to indoor and intensive aquaculture, following successful models in China, Thailand, and Vietnam. He noted that moving from raw exports to value-added products and branding could increase per-kg shrimp earnings by up to five times or more.

Discussions also focused on establishing hatcheries, feed mills, laboratories, and farms within the proposed zone under strict biosecurity measures. Stakeholders considered allowing controlled farming of vannamei shrimp, along with ensuring real-time monitoring and full e-traceability in line with European Union and US standards.

Under the proposal, BIDA will lead investment promotion and facilitation, while the Bangladesh Economic Zones Authority (BEZA) will manage the zone. MIDA will oversee policy coordination.

Ashik Chowdhury said the government aims to revitalize the shrimp sector and take export earnings to the billion-dollar level. He added that practical recommendations are being developed in consultation with the private sector.

Industry representatives expressed support for the initiative. Potential locations for the shrimp economic zone include Khulna, Maheshkhali, Cox’s Bazar, and Satkhira.