DEMEC HPL

Agreement for long line fishing license in the territory of special exclusive economic zone beyond 100 miles from  archipelagic- base line of the territory of Republic of Maldives.

 

Demec has signed an agreement ministry of fisheries and agriculture on behalf of the government of the Maldives for  long line fishing license in the territory of special exclusive economic zone beyond 100 miles from  archipelagic- base line of the territory of Republic of Maldives on 30^th October 2013 .

 

Mari culture /Aquaculture

 

Maldives is a country surrounded by vast areas of ocean, from which for centuries we have been carrying out economic activities. Fishing has been an activity; an inheritance derived by our forefathers and has developed and taken place through time. Even today, it remains one of the main occupations, contributing to more than fifteen percent of the country's GDP and employing about thirty percent of the country's work force. It is the second largest industry after Tourism, which accumulates an influx of foreign currency in to the country. To bring in more economic development and growth, which has been consistent for the past two decades, Maldives needs to increase private involvement or even maybe foreign investment in the Fisheries industry because it is one of our potential. Priority towards the development and sustaining the industry would definitely give promising results. 

The aquatic abundance surrounded by the archipelagos of Maldives shows a promising development in the area of Aquaculture. The sheltered lagoons and consistently warm waters are idyllic for aquaculture. Since many regions of Maldives are sparsely populated, it would ensure that there would be less affect of it on the people’s daily lives. 

Though the islands in the Maldives have the ideal conditions needed for aquaculture, there are only experiments proceeding like the Laamu Atoll Mariculture Project, 1994. The market for Aquaculture would be profitable if initialized as the rapidly growing tourism industry is increasing demand for more seafood cuisines and as the prices of fisheries products have been rising due to an expansion in demand in the previous years.  To that end, Demec has decided to invest on hatcheries and grow-outs firms.

 

 

 

Poultry farming

Demec plans to invest in poultry industry by providing finance to start-ups SMEs through a venture platform. To that end,  Demec looks the potential opportunities in this industry.