Projects to establish an 11,400-tonne fish cold storage capacity across the country will proceed next year, Hassan Zareer, the Minister of Finance And Public Enterprises, said while presenting the proposed state budget to Parliament. Delivering the 2027 statement, the minister affirmed that fisheries and agriculture represent the two most critical industries for economic independence and public prosperity.
Targeted initiatives prioritising freezing and storage infrastructure incorporate provisions to expand daily ice production capacity by 550 tonnes, encompassing dedicated plants for reef fishing alongside mariculture expansion.
"Projects to establish an additional 11,400 tonnes of storage will proceed during 2027," Minister Zareer stated, noting that a new yellowfin tuna packing facility in Hulhumalé will enable small and medium-sized enterprise owners to secure revenue directly in foreign currency.
To guarantee national food security and curtail import reliance, the government will similarly prioritise agriculture. Under this programme, policy measures will restrict the importation of produce that can readily be cultivated domestically, establishing a framework to ensure local farmers receive fair prices, the minister observed.
Enforcement of legislation governing uninhabited islands and lagoons, slated to begin within the year, will ensure natural resources are managed sustainably and economic returns are equitably distributed among the public, according to the parliamentary budget statement.