The Minister of Fisheries and Ocean Resources, Ahmed Shiyam, has stated that the income generated from the fisheries sector is projected to double by the end of the current administration’s term. The Minister noted that previous efforts to address the industry’s long-standing challenges and to export value-added fish products had been insufficient. He further pointed out that over the past 40 years, only a single 50-tonne processing facility was established in Felivaru. The current government’s objective is to ensure that all varieties of fish exported from the Maldives are processed as value-added products.
Minister Shiyam also revealed that the existing 50-tonne processing capacity is currently being expanded to 300 tonnes, with significant milestones expected to be reached by 2026. He emphasized that the goal is to increase the annual fisheries revenue from USD 92 million to between USD 270 million and USD 280 million within this five-year term. To facilitate this, a favorable budget has been allocated for the upcoming year. Additionally, the government aims to complete a major portion of the ongoing cold storage projects and bring several facilities into operation by the end of 2026.
