Minister of Fisheries and Ocean Resources Ahmed Shiyam has announced plans to increase fish storage capacity to over 25,000 tonnes by the end of the government’s five-year term. He made this statement in response to questions from Parliament members.
Minister Shiyam highlighted that the main challenge facing the fishing industry is inadequate storage and collection capacity, noting that 47 years have passed since the Felivaru facility began operations. He reported that Maldives' current fish storage capacity is 8,500 tonnes and that efforts are underway to enhance this capacity. The Minister indicated that they are working to increase the capacity to store fish worth USD 16.3 million, with hopes to exceed 25,000 tonnes by the end of the term.
He also criticised the previous administration for not taking action to expand the Addu City Fisheries Complex. Additionally, he mentioned that funding from the Islamic Development Bank (ISDB) has been allocated for the development of MIFCO, with plans to increase its capacity to 2,500 tonnes starting early next year, targeting completion by the end of next year or early 2026. The ISDB has committed USD 70 million for the construction of a new facility.