Fisheries Promotion Agency to Begin Work During Ramadan

The Ministry of Fisheries has announced that the Maldives Fisheries and Ocean Resources Marketing and Promotion Limited will commence its operations during the month of Ramadan.

The Fisheries Ministry stated that the Privatization and Corporatization Board is currently working on forming the company's board, and that the agency will begin its work during Ramadan, becoming a fully operational company by the end of the month.

The company, established by the government to promote the fisheries industry, will initially operate within the Fisheries Ministry. The ministry mentioned that arrangements are being made to accommodate the company's work on one floor of the ministry.

Regarding the company, the Minister stated that once operations begin, efforts to find additional foreign markets will commence. Highlighting the significant challenges faced by small and medium-sized enterprises in the domestic market, the Minister said that these issues will be addressed, and efforts will be made to secure space for them in domestic markets.

Noting that resorts form the largest "consumer base" for the Maldivian fisheries sector, the Minister added that work will be done to pave the way for reef fishermen to sell their catch to the resort market.

"The work of this agency is not only outside the Maldives. There is a huge market for fish consumption in the Maldives. Penetrating that market for small and medium enterprises will be a major goal," the Minister said at a press conference held yesterday.

President Dr. Mohamed Muizzu established the "Maldives Fisheries and Ocean Resources Marketing and Promotion Limited" on February 4 this year. This is a 100% government-owned company with limited liability.

The company's mandate includes expanding the Maldivian fisheries industry and increasing its benefits to society by advertising and promoting Maldivian fisheries products, including those from aquaculture and mariculture, in the international market. Furthermore, to increase the commercial benefits, the company aims to introduce a special brand for Maldivian fisheries, launch it in national and international markets, and secure a share for Maldivian fisheries products in high-quality, premium markets.