The Maldives government is proposing a significant overhaul of its fisheries industry. Fisheries Minister Ahmed Shiyam has outlined plans to phase out fresh fish exports in favor of canned fish exports.
To support this transition, the government is collaborating with a Chinese company to construct three fish processing factories. These new facilities, combined with existing processing plants, are expected to increase the country’s processing capacity to 340 tonnes of fish.
The government anticipates that by processing a larger portion of its annual fish catch, which currently stands at approximately 130,000 tonnes, it can significantly boost export revenue. Minister Shiyam estimates that monthly fish export earnings could double, rising from $90 million to between $180 million and $190 million.
While the proposed changes promise economic benefits, their impact on the fishing industry and the overall economy remains to be seen.
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