The Impact of Maritime Transport on Economic Growth in Bangladesh A study on Shipboard Management

Abstract

The concept "maritime economy" refers to an economic assignment on a marine or sea-based resource base, which would be a relatively modern concept inside the economics profession. The purpose of this research is to investigate the feasibility of an ocean economy in supporting Bangladesh's transformation from a middle-income country to a developed nation, as predicted in 'Vision 2021,' through all of the appropriate exploitation of natural resources. Bangladesh may significantly help speed its economic progress by successfully utilizing maritime advantages, according to the research. In the Bay of Bengal, Bangladeshi has a 200-nautical of EEZ (Exclusive Economic Zone) and a 710-kilometre-long coast. Oceans, which stretch approximately three-quarters of the troposphere, perform two essential services. The ocean has become a significant means of communication and transportation since about the beginning of humanity. In addition, it is the world's highest supplier of both sleeping and semi-substances. Although most maritime countries are already becoming progressively mindful of potential marine biodiversity in addition to addressing many more of their businesses' present and future problems. In Bangladesh, the coastline makes an important contribution to the country's overall socioeconomic advancement by stimulating economic growth, particularly in the southern coastal environment. This article analyzes how well Bangladesh can handle the challenges of becoming a developed economy by executing the Sustainability Objectives, mainly based on data analysis (SDGs). The impact of Bangladesh's maritime sector on the economic growth of the country is represented. Additionally, it seeks to determine the operations' barriers and limitations from many viewpoints. It proposes various strategies to support Bangladesh's long-term economic expansion.