Government commits to transform fisheries into powerful engine of growth

The Governor General, His Excellency, Sir Reverend David Tiva Kapu, said the national government remains steadfast in its vision to transform the fisheries sector into a powerful engine of economic growth.

Delivering his traditional Speech from the Throne at the opening of the 3rd Sitting of the 12th Parliament on Thursday Sir David highlighted the government’s increased financial injection of funding into the fisheries sector for rural areas.

In 2024, the government allocated SBD 7 million to increase seaweed production.

This figure was further increased this year with an additional SBD 11 million, reflecting the government’s strong belief in the sector’s potential to uplift people’s income.

In addition, the government has committed to allocating USD10 million annually, beginning in 2026, toward key national projects, including the Bina Harbour Onshore Tuna Processing Plant.

“This long-term commitment affirms our resolve to deliver the Bina project and strengthen both economic security and regional leadership,” Sir David said.

The government, through the Ministry of Fisheries and Marine Resources, has taken action to improve the value of the beche-de-mer fishery by approving Commercial hatcheries to mass-produce sea cucumbers—a first for the sector, which will enhance sustainability and long-term returns.

Later this year, GIFT tilapia—a new breed of tilapia—will be introduced.

Hatchery operations will follow, providing farmers with new income streams and a stronger foundation for improving livelihoods.

On sustainable management of fisheries, Sir David highlighted that the government remains committed to the sustainable management of fisheries through its national, regional, and international obligations with partners and stakeholders to protect the country’s marine environment and to secure long-term food and economic security.

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GCU