President Dr Mohamed Muizzu has highlighted the potential of the fisheries sector to significantly contribute to the Maldivian economy, pledging government support to address existing challenges and revitalise the industry. Speaking during his visit to GA. Dhevvadhoo, President Muizzu emphasised that fisheries remain a key driver for economic growth, capable of enriching the lives of Maldivians if the right efforts are made.
Over the years, the Maldivian fisheries sector has faced multiple challenges, including declining fish stocks due to overfishing and climate change, rising operational costs, and limited processing and export facilities. These issues have strained the livelihoods of local fishermen, whose incomes are further impacted by fluctuating global market prices for tuna and other fish products. Infrastructure gaps, such as inadequate harbours and cold storage facilities, have also hindered the sector’s growth.
To address these challenges, President Muizzu highlighted the need for targeted interventions. He announced that his administration had fulfilled a key pledge by ensuring payments for fish purchases are cleared within 48 hours, providing much-needed financial stability for fishermen. “A lot of projects will be started by securing foreign assistance and from within the government budget to expand the fisheries sector and by facilitating fishermen to expand the sector. We need ways to encourage others to enter the sector, to boost this industry,” he said.
The President also stressed the importance of infrastructure improvements, such as harbour developments and erosion control, to support fishing communities. He pledged that the government would prioritise these initiatives, which directly impact the efficiency and safety of fishing operations.
Additionally, President Muizzu emphasised the resilience of the fisheries sector, noting that it is less susceptible to global economic fluctuations compared to other industries. “The fisheries sector is in our hands,” he said, urging greater national focus on promoting and sustaining this vital industry.
