All those regional states signing and FGS heads signing licensing fees are fools. Getting measly couple millions while our fish population are decimated, who knows what will even be left once we are back on our feet.
Following the February 2018 National Security Council revenue sharing agreement, the federal Ministry of Fisheries and Marine Resources issued fishing licenses legally and transparently for the first time in almost three decades to 31 Chinese longliners, earning a total of $1.05 million in license fees. The fees were initially deposited in an account at the Central Bank of Somalia but later shared among FGS, Puntland, Galmudug, Hirshabelle, South West and Jubaland in line with a revenue sharing agreement reached in Addis Ababa in March 2019. It is worth mentioning that apart from meager license fees, Somalia does not benefit much from the operations of licensed industrial vessels that neither process nor transship their fish catches at Somali ports, mainly due to the absence of suitable infrastructure, bunkering facilities and chandlery services that support the offshore fishing industry. While development of a homegrown, robust offshore fishing industry may take years if not decades, the country can still maximize revenue from its offshore resources through improved joint ventures and an appropriate licensing system for fishing by foreign fleets with provisions for a strong training component for national crew and a requirement for all vessels to transship their catch at local ports.
Following the February 2018 National Security Council revenue sharing agreement, the federal Ministry of Fisheries and Marine Resources issued fishing licenses legally and transparently for the first time in almost three decades to 31 Chinese longliners, earning a total of $1.05 million in license fees. The fees were initially deposited in an account at the Central Bank of Somalia but later shared among FGS, Puntland, Galmudug, Hirshabelle, South West and Jubaland in line with a revenue sharing agreement reached in Addis Ababa in March 2019. It is worth mentioning that apart from meager license fees, Somalia does not benefit much from the operations of licensed industrial vessels that neither process nor transship their fish catches at Somali ports, mainly due to the absence of suitable infrastructure, bunkering facilities and chandlery services that support the offshore fishing industry. While development of a homegrown, robust offshore fishing industry may take years if not decades, the country can still maximize revenue from its offshore resources through improved joint ventures and an appropriate licensing system for fishing by foreign fleets with provisions for a strong training component for national crew and a requirement for all vessels to transship their catch at local ports.
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