Fisheries Minister Ahmed Shiyam has stated that with the establishment and operation of the new fish factories currently being developed by the government, approximately 90% of the fish exported from the Maldives will be exported as canned or value-added products.
The Fisheries Ministry signed an MOU with China's Dongfang Electric International Corporation on April 14 under a contractor finance model to build fish processing factories with a capacity of an additional 100 tonnes in Lh. Felivaru, 50 tonnes in D. Maadheli, and 100 tonnes in GDh. Fiyoaree. The government later decided to relocate the fish factory planned for Maadheli to F. Nilandhoo.
The Minister said that efforts are being made to expedite the work on the three fish factories. In this regard, the company awarded the work has now completed the surveys and concept designs, and the agreement will be signed and work will commence as soon as the company submits all relevant documents to the government. The Minister also stated that the target is to complete the work within two years of the practical work commencing.
"The target is to see if we can bring at least one facility into existence by late 2025 or early 2026. We are proceeding with the work in that manner," the Minister said.
The Minister further stated that once these factories are established and brought into operation, the amount of fish processed daily will increase, and the volume of canned fish exported from the Maldives will also increase significantly.
"Currently, with private parties, the processing capacity in the Maldives is at 110 metric tonnes per day. God willing, upon completion of these factories, we will have an additional 300 metric tonnes. That is a very big target. If that happens, approximately 90% of the fish exported from the Maldives will then be exported as canned or value-added," the Minister said.
The Minister noted that a proportionately large amount of the fish caught in the Maldives is currently being exported as raw fish, which in reality does not fetch the price it deserves. He added that they do not want to give the benefits of the Maldives' sustainable fishery to others or foreign companies, and the government's vision is to export fish from the Maldives in cans, pouches, or as value-added products. The Minister said he believes the benefits to both fishermen and the fishing industry will be much greater then.
"We want to export the skipjack tuna caught in the Maldives in cans and pouches. That is when Maldivian fish will get a good price. And we believe the income received by fishermen will also improve compared to now," the Minister said.
The government is working to diversify the fishing industry to increase the profits derived from it. In this regard, the government is working on opening up longline fishing, developing mariculture as a separate industry in the Maldives, and designating special areas for reef fishing.
