The Maldives is set to significantly increase its fish export revenue to USD 190 million by enhancing its fish processing capacity, according to Fisheries Minister Ahmed Shiyam.
In a recent media appearance, Shiyam outlined government plans to build new processing factories in Lh. Felivaru, F. Nilandhoo, and GDh. Fiyoaree. These new facilities will add 300 metric tons to the current 40 metric tons capacity.
With the help of private companies like Ensis and Horizon, the Maldives’ total fish processing capacity is expected to reach 81,000 metric tons. Shiyam emphasized the goal of shifting entirely to exporting canned fish instead of unprocessed fish.
Maldivian fishermen currently catch between 128,000 to 130,000 metric tons of fish annually. By processing 82,000 metric tons, the government anticipates a significant revenue boost.
Shiyam noted that the Maldives has exported frozen skipjack tuna for 40 years but still lacks adequate cold storage. Improving processing capabilities is essential to maximize economic benefits.
Currently, fish export revenue stands at around USD 90 million. Enhancing processing capacity could raise this to USD 180-190 million, Shiyam said.
The expansion aims to leverage the Maldives’ marine resources more effectively, ensuring higher economic returns and promoting sustainable fisheries practices.
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