Fisheries Minister Dr. Hussain Rasheed Hassan says no new factory has been built near fishing-rich areas across the countries nor have cold storages been built in these regions.

Speaking on a program by PSM News, the Minister said that there is no profit in selling frozen fish to countries other than Thailand and that the best way to generate a feasible income is to export fish products.

The Minister said that the Government is investing in ways to generate more income for fishermen and that the most important thing the government can do is to attract foreign investments to bolster private sector involvement in the industry.

Minister Dr. Hussain said that this would take time and that the administration of President Ibrahim Mohamed Solih would achieve this.

He further said that the government is working to upgrade the MIFCO facility and that the government is also working to open the fishing industry to the private sector.