Tanzanian authorities have invited investors in the fisheries sector saying the east African nation’s current demand for fish products was 800,000 tonnes annually while production stood at between 400,000 tonnes and 450,000 tonnes annually.
Abdallah Ulega, the Deputy Minister for Livestock and Fisheries, said there were huge investment opportunities in fish processing plants and aquaculture.
Speaking at the end of an investment forum organized by the investment portfolio in the Prime Minister’s Office on Saturday evening in the commercial capital Dar es Salaam, Ulega said the government has put in place conducive atmosphere for investing in the fisheries sector.
He also appealed to investors to capture investment opportunities that were available in dairy, meat and leather processing factories.
Speaking last week at the launch of a five-year program by WWF Tanzania aimed at improving management in Tanzania’s marine areas, Ulega said fish catches have increased after the government managed to control illegal fishing by 99 percent.
He said the massive control in illegal fishing has resulted in an increase in fish catches from 387,543 tonnes of fish worth 1.74 trillion Tanzanian shillings (about 756 million U.S. dollars) in 2017/2018 to 448,464 tonnes worth 2.11 trillion shillings in 2018/2019.
Ulega said the fisheries sector in Tanzania grew by 9.2 percent in 2018, contributing to 1.71 percent of the gross domestic product, adding that the target by the Ministry of Livestock and Fisheries was to ensure that the fishing industry contributed 5 percent of the GDP by 2020/2021.
He said the fisheries sector on mainland Tanzania provided 202,053 direct employment and 4.5 million indirect employment. Enditem