TBT DESK: Bangladesh is looking to the Bay of Bengal as the gateway to a new era of prosperity, with an ambitious 30-year development plan to transform the coastal belt of Moheshkhali-Matarbari into the nation’s first true blue economy hub.
The government has tasked the newly formed Moheshkhali Integrated Development Authority (MIDA) with leading this transformation. Its master plan envisions a deep-sea port, integrated energy facilities, modern transport infrastructure, and industrial zones – together designed to place Bangladesh firmly on the global maritime map.
According to MIDA projections, the scheme could attract between $60 and $65 billion in investment over the next three decades. In return, it is expected to contribute as much as $150 billion to national GDP and generate around 2.5 million jobs by 2055. The plan will roll out in three distinct phases: 2025–2030, 2030–2045, and 2045–2055.
“This is more than just a port project,” said Chief Adviser Professor Muhammad Yunus, presenting the master plan recently. “The sea will be our highway to the world. We must build a city that is driven by the principles of the blue economy – sustainable, inclusive, and globally connected.”
At the heart of the initiative lies the Matarbari deep-sea port, expected to be fully operational by 2026–27. Once complete, it will be Bangladesh’s most advanced maritime gateway, capable of accommodating large international container vessels. A network of highways will connect the port to national supply chains and regional markets.
Alongside this, Moheshkhali is being developed as a national energy hub, with LNG, LPG, oil storage, and power generation infrastructure already underway. A 1,200-megawatt coal-fired power plant is operational, while renewable energy options are under active consideration to align with long-term sustainability goals.
The wider vision stretches beyond infrastructure. Plans include research and training centres dedicated to oceanography, marine biotechnology, and sustainable fisheries, alongside eco-tourism zones, coastal conservation projects, and smart urban planning that aims to balance environmental protection with industrial growth.
Experts have compared the project’s potential to that of Chattogram in its heyday, with some even envisioning a city that could rival hubs such as Singapore or Shanghai – a logistics and energy bridge serving not only Bangladesh but also landlocked neighbours such as Nepal and Bhutan.
For local communities, the promise of change is palpable.
“If implemented properly, this project can change our lives,” said Syed Noor, a resident of Moheshkhali. “We hope it brings jobs, education, and better living standards.”
Another resident, Jamal Miah of Matarbari, echoed the sentiment: “Industries and factories will be established here. Right now, there are very few work opportunities – this project can open doors for the whole community and boost the country’s economy.”
As Bangladesh’s first major coastal urban and industrial project built entirely on the principles of the blue economy, the Moheshkhali-Matarbari initiative may well redefine the nation’s relationship with the sea – turning it from a geographical frontier into an engine of opportunity and growth.
