Ministry of Fisheries and Blue Economy Signs Development Agreement for Somalia’s Fishing Sector

Mogadishu (18 June, 20205-LM) The Ministry of Fisheries and Blue Economy of the Federal Government of Somalia and the Turkish company OYAK signed an agreement today to develop Somalia’s fishing industry. This agreement holds particular significance for enhancing the country’s marine resource economy. It focuses on several strategic points, including: Direct investment in fishing infrastructure, increasing fish production, improving fish quality to reach global markets, establishing fishing industries to boost exports and create jobs for youth, and enhancing systems to combat illegal fishing.

The agreement was signed on behalf of the Federal Government of Somalia by the Minister of Fisheries and Blue Economy, Mr. Ahmed Hassan Aden, while Mr. Sermaye Yatırımları Anonim Şirketi represented OYAK. This partnership is expected to significantly increase revenue from Somalia’s marine resources and lead to substantial job creation for Somali youth.

The Ministry of Fisheries and Blue Economy is fully committed to advancing the country’s fishing sector, collaborating closely with international companies and investment agencies to bring development and prosperity to Somalia’s fishing and blue economy.

Leadership Magazine