Development of three fish processing plants will begin this year: Fisheries Minster

Minister of Fisheries and Ocean Resources, Ahmed Shiyam has announced that the development of fish processing plants in three regions of the Maldives will begin this year. He made this announcement during aceremony held to launch the revised loan project for installing saltwater fish cooling systems on fishing boats.

During the ceremony, Minister Shiyam highlighted that fishermen often have to sell their catch at unprofitable prices, which is a significant challenge in the fishing industry and leads to financial losses. To address this issue, he emphasised that efforts are underway to ensure fair pricing for fish products and to facilitate profitable exports. The three new processing plants are part of this initiative, with practical work on the facilities set to commence this year.

Minister Shiyam mentioned that currently, about 110 metric tonnes of fish are processed daily. With the new plants, this capacity is expected to rise to approximately 300 metric tonnes, which he believes will enhance income from skipjack tuna.

According to statistics shared by the Minister, successful fish exports can generate between USD 92 million and USD 95 million in revenue. With the establishment of the new factories, he anticipates that this figure could potentially double.