Webinar on the Opportunities in The Aquaculture Sector in Bangladesh

On behalf of the Embassy of the Kingdom of the Netherlands in Dhaka, Larive International and their Bangladeshi partner LightCastle Partners have concluded a study on Opportunities in the aquaculture sector in Bangladesh. The study has assessed the status quo of the fisheries and aquaculture sector in Bangladesh and identified the key challenges and bottlenecks facing the sector. Based on the identified gaps, the study identified solutions and opportunities for joint collaboration with Dutch companies and institutes, particularly through investments, knowledge exchange, and policy, regulatory and technology support.

On the 21st of April, a webinar titled “Opportunities in the Aquaculture sector in Bangladesh” was organized to disseminate the findings from the study. His Excellency Harry Verweij, Ambassador of the Netherlands to Bangladesh, and His Excellency M. Riaz Hamidullah, Ambassador of Bangladesh to the Netherlands, delivered remarks during the session. The keynote speakers were Matthias Brienen, Director of Larive International; Zahedul Amin, Director of LightCastle Partners; and Saif Nazrul, Senior Business Consultant and Project Manager at LightCastle Partners.

The first half of the study presented an overview of the fisheries sector and the status quo of the different segments of the aquaculture sector of Bangladesh. The study projected the per capita fish consumption of Bangladesh to grow to 23.1 kg per year by 2025 from 21.8 kg per year, facilitated by projected growth in fisheries production to 5.67 million MT by 2024, signifying an annual production growth of 5.2%. The second half of the study highlighted the identified challenges and bottlenecks of the sector, followed by a presentation of the opportunities for Dutch stakeholders.

During the event, H.E. M. Riaz Hamidullah conveyed his vision of the aquaculture sector of Bangladesh:

“Even ten years back, people could hardly imagine that Bangladesh would emerge as the 3rd largest in inland fisheries or 5th largest in aquaculture production, globally, but we have achieved that thanks to the risk-taking appetite and innovation of scores of entrepreneurs. The time is indeed ripe for the Dutch actors to engage in Bangladesh as we strive to scale higher. We welcome the Dutch stakeholders to engage with knowledge – technology – innovations as Bangladesh strives to emerge as a key global aquaculture powerhouse. There is so much potential to tap – domestically, internationally – in mutually beneficial ways.”

The study identified a lack of quality seeds, poor animal health, low availability of high-quality feed, post-harvest loss, and less-developed cold chain facilities among some of the critical bottlenecks of the sector. The study also presented opportunities for Dutch stakeholders in the aquaculture sector ranging from facilitating training programs, setting quality and regulatory protocols, expanding the use of improved technology, and technical assistance in the identification and prevention of diseases. The report contended that Dutch stakeholders could also support the sector’s growth by investing in agro-logistics, building cold chain solutions, and strengthening capacity throughout the value chain by providing technological, business development, and knowledge-sharing support.

The outcome of the study will be to help match and connect the Bangladeshi and Dutch partners to act upon the recommendations of the study and jointly address the sector bottlenecks to achieve the full potential of the aquaculture sector of Bangladesh.