Minister of Fisheries and Ocean Resources Ahmed Shiyam has stated that increasing fish exports through value-added pricing will significantly boost income from the fisheries sector. He made these comments during an appearance on a PSM News program, where he outlined the government’s ongoing efforts to develop the fishing industry.
Minister Shiyam highlighted that one of the major challenges facing the sector is the limited capacity for storing and processing fish. He explained that this constraint has hindered efforts to maximize fish prices and increase income through improved preservation methods.
The Minister further noted that under the administration of President Dr. Mohamed Muizzu, a key priority for the Ministry of Fisheries and Ocean Resources is to expand the country's fish storage capacity to 25,000 tonnes over the next five years. This initiative is also paired with plans to build additional fish processing plants across the nation.
Minister Shiyam emphasized that President Muizzu’s vision is to ensure that all fish caught in the country are exported at competitive prices. To achieve this goal, the government is investing in the development of processing and cold storage facilities in three key regions.
The Minister also highlighted that expanding value-added fish exports could potentially double the revenue from the sector. With the planned increase in storage capacity, the government aims to export 90% of the fish produced domestically by enhancing its value through processing.
As part of the Storage Expansion Project, a 1,500-tonne fish storage and 50-tonne processing facility will be established in Nilandhoo, Faafu Atoll, along with an additional 100-tonne fish processing facility in Felivaru, Lhaviyani Atoll. Additionally, Fiyori in Gaafu Dhaalu Atoll will see the construction of a storage facility with a capacity of 3,000 tonnes, alongside a processing facility capable of handling 100 tonnes of fish per day.