The blue economy, as a concept, is not that well-articulated and formalized at the national level. This tends to propel the blue economy to fail to achieve practical objectives and taking care of ocean health, economic development, ocean industries, human well-being, and social equity. There is an urgent need to address the decline in ocean health. There is also a need for operationalizing, implementing, and reviewing well-crafted concepts and strategies for the clients. The Bay of Bengal areas like Bangladesh, eastern parts of India, and western parts of Myanmar rightly deserve effective governance to ensure better sea health, such as preventing plastic pollution, preserving sustainable fisheries, exploring gas and oil, taking care of dead zones in it and on-going depletion of mangrove forests along its coasts. This chapter attempts to suggest realistic and actionable strategies to indicate dedicated governance structures and policy consistency. In doing so, it also makes efforts to clearly identify the principles of sustainable development that fulfill social, economic, and environmental objectives in tune with the UN Sustainable Development Goals. The methodology used in this chapter is content analysis, discussions with the experts, observations, and the author’s personal experience of working in disaster management and rehabilitation over three decades in the coastal areas of the Bay of Bengal.