Minister hopeful on fish prospects

MINISTER of Fisheries and Marine Resources Abraham Iyambo told the National Assembly yesterday that if restrictions he ordered in February to prevent exploitation of vulnerable fish stocks were strictly adhered to, the industry would reap benefits sooner rather than later.

“We will continue to monitor the implementation of management measures that I introduced recently for the protection of juvenile hake. I believe that the difficulties faced by the fishing industry are short term.With continued sound and appropriate management of resources, I see light at the end of the tunnel,” said Iyambo.Motivating his Ministry’s budget of N$131,9 million, Iyambo urged workers, unions and company management to continue engaging each other to ensure high productivity and industrial peace, taking into account the short-term hardship the industry is going through.”There is a need for greater mutual understanding,” Iyambo said.He said what he termed “economic turbulences” within the sector as a result of exorbitant oil prices, the unfavourable exchange rate, distorted markets, strained labour relations and excessive availability and catches of smaller-sized fish.The Minister said for the sector to continue being one of the main contributors to Namibia’s economic development it was cardinal that investment incentives be extended to the fisheries sector.These include incentives for value addition to ensure product diversification, increased profit margins and the creation of additional jobs.Market research to understand consumer preferences is also very important, as is increased productivity and efficiency at all levels of the industry, said Iyambo.He noted that the woes the fishing sector were currently experiencing were not unique to Namibia.I believe that the difficulties faced by the fishing industry are short term.With continued sound and appropriate management of resources, I see light at the end of the tunnel,” said Iyambo.Motivating his Ministry’s budget of N$131,9 million, Iyambo urged workers, unions and company management to continue engaging each other to ensure high productivity and industrial peace, taking into account the short-term hardship the industry is going through.”There is a need for greater mutual understanding,” Iyambo said.He said what he termed “economic turbulences” within the sector as a result of exorbitant oil prices, the unfavourable exchange rate, distorted markets, strained labour relations and excessive availability and catches of smaller-sized fish.The Minister said for the sector to continue being one of the main contributors to Namibia’s economic development it was cardinal that investment incentives be extended to the fisheries sector.These include incentives for value addition to ensure product diversification, increased profit margins and the creation of additional jobs.Market research to understand consumer preferences is also very important, as is increased productivity and efficiency at all levels of the industry, said Iyambo.He noted that the woes the fishing sector were currently experiencing were not unique to Namibia.