President Dr Mohamed Muizzu announced the establishment of an additional 100 metric tonne canning factory in Felivaru during a speech delivered at the 43rd Fishermen’s Day ceremony at Dharubaaruge Rannabadeyri Hall.
The President stated that a primary goal of the government is to ensure a fair and equitable price for Maldivian fish. He highlighted the current practice of exporting Maldivian seafood in a frozen state and proposed alternative methods to command higher prices in foreign markets.
One suggested approach is the environmentally conscious export of fish and promoting Maldives-branded fish to underscore the longstanding tradition of local fishing.
President Muizzu anticipates that these changes will increase the price of Maldivian skipjack tuna in international markets, benefiting local fishermen. He reiterated the government’s commitment to these initiatives, emphasising their dedication to enhancing the global reputation of the Maldives.
Currently, 65 percent of native skipjack tuna is exported to foreign canneries in a frozen state. The President expressed determination to revamp this system to ensure local fishermen receive appropriate compensation.
President Muizzu also announced plans to encourage investment in the sector, focusing on increasing the value of fish produced in the Maldives. Opportunities will be provided for Small and Medium Enterprises (SMEs) to produce various fish products, supporting industry growth.
”Similarly, the ongoing efforts to further develop the Felivaru factory include construction of an additional 100 metric tonne canning plant, which is a very important opportunity for the Maldives Fishermen’s Cooperative (MIFCO) to increase the volume of canned fish exported at value added.” The President highlighted.