Maldives Government to Boost Fisheries Profitability with New Processing Facilities

The Ministry of Fisheries and Ocean Resources has unveiled ambitious plans to revolutionize the Maldives' fisheries sector with the construction of a state-of-the-art fish canning factory. Minister of State for Fisheries, Mohamed Muthalib, revealed the government's strategy to bolster the value-added fish processing industry, citing the imminent establishment of a canning facility capable of processing 100 tonnes of fish daily.
Highlighting the government's commitment to expedite industry growth, Muthalib emphasized concurrent efforts to deploy cold storage facilities across strategic locations. The objective is clear: to elevate the Maldives' fish processing capabilities and streamline export processes, with a goal to export the nation's entire fish production within the next four years.
While acknowledging past challenges and delays in fishing industry projects, Muthalib assured swift completion of government-led initiatives within the next two years. Collaborative endeavors with the Maldives Industrial Fisheries Company Limited (MIFCO) are also underway to ensure fishermen reap the benefits of sectoral advancements.
The government's proactive stance aims to mitigate income losses attributed to the exportation of raw fish, positioning the Maldives as a key player in the global fisheries market. With the establishment of the Maldives Fisheries and Ocean Resources Marketing and Promotion Limited, the nation seeks to maximize the profitability of its fisheries products, fostering sustainable economic growth within the sector.