The government will provide all necessary supports to the investors involved in fish processing industry. They will get tax exemption on capital machinery import and loans at low interest for investing in the fish processing plants, said Fisheries and Livestock Minister SM Rezaul Karim.
The minister made the announcement at a workshop titled ‘Fisheries Subsidies in the Context of LDC Graduation and Way Forward’ at the National Economic Council (NEC) Conference Hall of the Planning Commission in the city. The government is attaching utmost importance to sustainable catch of marine fisheries resources, he said.
Support to Sustainable Graduation Project under the Economic Relations Division organised the programme chaired by ERD Secretary Sharifa Khan. Fisheries and Livestock Secretary Nahid Rashid, President of Dhaka Chamber of Commerce and Industry Samir Sattar and Bangladesh Frozen Food Exporters Association President Kazi Belayet Hossain spoke, among others, while Director of Support to Sustainable Graduation Project Farid Aziz delivered the welcome speech, said a ministry press release.
SM Rezaul Karim said many countries are becoming fishless due to overfishing. In the Bay, we often also found reckless attempts of overfishing,” he said. The government is giving utmost importance to moderate and sustainable fishing in the sea for future fish security,” he added.
The minister said his party-led government is taking strict steps to stop overfishing. All sea fishing vessels have been brought under registration. Vessel monitoring system is being established for monitoring these vessels; fishing by marine vessels is being brought into a system. The government is working to make the fisheries sector sustainable.
Laboratories of international standard have been set up to ensure fish quality, he said. The government has permitted ‘vennamai’ shrimp farming recently to expand the export market, he added. The minister also said preparations should be taken with foresight to deal with what could happen in the sector in post-middle-income status in 2026.
“We have to prepare for the LDC graduation period keeping in mind both possibilities and threats,” he said. In this case, the state will provide all kinds of possible helps, he added.
Rezaul Karim also said if investors want to set up a fish processing plant, the government will provide easy-term low-interest loan and tax exemption on import of capital machinery. Necessary cooperation will be given for fish export through establishing a required number of economic zones for fish processing. He urged the private sector to invest in fish processing for good business as well as for the betterment of the economy.