Market Digest

BSFF, DoF team up to facilitate investment in coastal aquaculture

Staff Correspondent

19 May, 2021 12:00 AM printer

Bangladesh Shrimp and Fish Foundation (BSFF) and Sustainable Coastal and Marine Fisheries Project (SCMFP) or Department of Fisheries (DoF) have signed a contract for implementation of the component on investment promotion and market campaign for fish and fishery products under the World Bank financed SCMFP project of Bangladesh.

The contract will be implemented by a team comprising experts from Bangladesh Shrimp and Fish Foundation (BSFF) - the lead consultant and the US based Global Aquaculture Alliance (GAA) which has joined BSFF as a partner for this particular assignment.

SCMFP or DoF Project Director Kh Mahbubul Haque and BSFF Acting Chairman Ambassador Liaquat Ali Choudhury signed the agreement on behalf their respective organisations, said a press release on Tuesday.

The component on investment and market promotion under this assignment is an important component of the flagship project entitled 'Sustainable Coastal and Marine Fisheries Project (SCMFP)' being implemented by DoF in collaboration with World Bank.  The project is expected to be completed within a period of 25 months beginning from March 2021. The SCMFP project will have its main focus on, among others, significantly increasing the contribution of the coastal aquaculture sector of Bangladesh to the growth of GDP, poverty eradication and promotion of sustainable aquaculture practice in Bangladesh, especially, in the coastal region of Bangladesh. In planning for the SCMFP, all significant supply side constraints presently standing in the way of accelerated growth of coastal aquaculture sector including infrastructure deficit and regulatory improvements needed to ensure eco-friendly sustainable development of the sector have been identified.

While working within the broader framework of SCMFP, BSFF-GAA team would provide specialised services to promote investment in the coastal aquaculture sector.

As part of the investment promotion activities, concrete initiatives would be suggested for implementation for encouraging investment in the vital areas of production of quality seed and feed for the shrimp sector.

Opportunities would be explored for the introduction of commercial scale production of such other species like Sea Bass, Mud Crab and Seaweed and encourage potential investors to come forward to invest for the purpose.

Under the component of Investment Promotion, BSFF-GAA experts would share with interested stakeholders in Bangladesh important technical know-how on modern cutting edge breeding technologies currently available and being used in the development of the aquaculture sectors in different regions of the world.

In order to enable Bangladeshi stakeholders to benefit from modern production practices, BSFF-GAA team will conduct several training programs on Good Aquaculture Practice (GAqP) and Better Management Practice (BMP).

Special efforts would also be made to impart training on Third Party Certification which may be availed by Bangladeshi exporters to brand their products and get better returns for their exports.

The BSFF-GAA team would be led by BSFF Board Director and Former Secretary, Ministry of Commerce and Former Chairman, National Board of Revenue Md Ghulam Hussain and comprises, among others, the President of GAA Dr. George Chamberlain, Director of Bay of Bengal Program Intergovernmental Organisations (BOBP-IGO) Dr Yugraj Singh Yadava and Senior Vice President and Head of BAP at GAA Gregory V Brown.