The government’s recent policy revision has resulted in a notable increase in youth employment within the fisheries sector, as confirmed by Ahmed Shiyam, the Minister of Fisheries and Ocean Resources. This policy ensures that payments for fish sold to the state-owned Maldives Industrial Fisheries Company (MIFCO) are made promptly, benefiting local fishermen.
Minister Shiyam underscored that this policy shift has revitalised the fisheries sector. His remarks were made during an interview with PSM News, coinciding with President Dr Mohamed Muizzu's ongoing tour of several islands in the Dhaalu Atoll.
Reflecting on the sector's challenges, Minister Shiyam elaborated that when President Dr Muizzu assumed office in November 2023, the fisheries sector faced numerous hurdles, the most pressing being a backlog of unpaid payments to fishermen by MIFCO. To resolve this, he said, the administration revised its policies to ensure fishermen receive timely payments upon selling their catch to MIFCO. This strategic move has rejuvenated the sector, promoting growth and sustainability, he added.
"Today, we observe an increase in the number of fishermen, the return of youth to the fisheries sector, and the significant benefits this brings to the communities," he stated.
Highlighting the current favourable fishing season, Minister Shiyam revealed that MIFCO purchases 450 metric tonnes of fish daily from fishermen and disburses between USD 324,000 and USD 388,000 per day. With the new policy ensuring prompt payments, he said, the future of the fisheries sector appears promising.
The fisheries ministry has detailed numerous plans to further develop the sector, including infrastructure projects. Next month, an agreement will be signed to develop a fish processing facility in Fiyoari, Gaafu Dhaalu Atoll, with construction commencing within two months. This facility, the ministry said, will include a fish canning factory capable of processing 100 tonnes, a cold storage facility with a capacity of 3,000 metric tonnes, a 100-tonne fish meal processing plant, and a 50-tonne ice plant.
In addition to these developments, the government has announced a project to expand the cold storage capacity of Kooddoo Fisheries Complex by an additional 4,000 metric tonnes. This increase will bring the total cold storage capacity to 8,500 metric tonnes across all fish processing plants in the country.
The government now plans to triple the cold storage capacity for fish to 25,000 metric tonnes. By the end of the year, the cold storage capacity in the fisheries sector is expected to rise to 15,500 tonnes, according to the government. It has linked the devaluation of Maldivian fish products to inadequate cold storage facilities, resulting in 65% of fish being exported as raw fish to international markets.