Minister of Fisheries and Ocean Resources Ahmed Shiyam has confirmed that practical efforts to convert Maldives Industrial Fisheries Company Limited (MIFCO) factories to optimise renewable energy sources will commence later this year. He made these remarks while sharing the ministry's achievements over the past six months since the current administration took office.
Moreover, Minister Shiyam underscored that this initiative significantly aims to reduce expenditures at fish processing factories by amending existing policies, ensuring lower operational costs for both the factories and fishing vessels. The centric focus will be on optimising renewable energy, with special priority given to MIFCO factories where the highest expenditures are incurred. He further conveyed that the primary goal is to convert 35% of these expenses to renewable energy.
Furthermore, it was also highlighted that efforts are currently underway to convert the fish processing factories in Kooddoo in Gaafu Alif Atoll and Felivaru to renewable energy sources.
Additionally, the minister strongly expressed the need for design changes in fishing vessels, which aligns with the administration's aim to substantially decrease the export of raw fish and increase value-added processing.
This initiative remarkably reflects the present administration's unwavering commitment to sustainable practices and cost-efficiency in the fisheries sector.