Ministry of Fisheries, Marine Resources and Agriculture has stated the profits of the Maldivian fisheries sector will increase five-fold if fish are processed in the Maldives and exported afterward.
Speaking on a programme aired on PSM News, Minister of State for Fisheries, Marine Resource and Agriculture Hassan Rasheed revealed the administration has formulated plans to enhance the capacity and quality of fish processing factories in the Maldives. The state minister said efforts are ongoing to reduce the export of raw fish and rather increase the export of value added or processed fish products. He added the benefits for the fisheries sector will further increase when the plan is executed by the administration.
The fish storing capacity in Kooddoo will increase from 2,000 tonnes to 6,000 tonnes following the completion of the expansion project initiated by the Maldives Industrial Fisheries Company (MIFCO).