Fisheries industry faces the biggest challenges: President

President Abdullah Yamin has said that the fisheries industry of the Maldives faces biggest challenges to development among local industries.

Speaking at the special ceremony held at Lh. Naifaru to mark this year’s Fishermen’s Day, the President said that one of the most serious challenges is the issue of underpricing Maldivian fish. He said that such challenges have hampered the development of the industry.

“Since our supply is a relatively tiny portion of fish supplied to world market, we have no control over the prices. Hence, securing supply, setting the market prices, and where to supply, and other such matters make this industry the one facing biggest challenges”, said the President.

The President said that Maldivian fisheries industry has had to compete with highly efficient suppliers and that despite such challenges, Maldives needs to increase its productivity in this industry.

The President said that more jobs would be created in the fishing industry through the efforts of both the government and the private sector. He said that these two need to widen the scope of operations to create more jobs in the sector for Maldivians.

The President noted that the government had introduced an insurance scheme to address the issue of personal injury to fisherman while working, which is not an infrequent occurrence.

The President pleaded fishermen to participate in the government’s “Beyas Nubeyas” loan scheme, introduced in accordance with the ruling Progressive Party of the Maldives’ (PPM) campaign vows.

The President observed that the purpose of Beyas Nubeyas scheme and other similar programs is to attract more people to work in the fishing industry, and also said that despite all the challenges, the Maldives needs to work hard to make its fisheries sector a success.