Somalia Launches Joint Fisheries Firm to Boost Blue Economy

GOOBJOOG NEWS | MOGADISHU: The federal government of Somalia has launched Somtürk, a joint fisheries company formed with Turkey’s OYAK Group, in a move that will strengthen marine resource management and expand the country’s blue economy.

The company, established between the Somali Fisheries Company and OYAK, is aimed at improving fisheries production, enhancing oversight and tackling illegal, unreported and unregulated fishing.

Speaking at the launch in Mogadishu, Deputy Prime Minister Jibril Abdirashid Haji said the partnership marked a step toward sustainable economic development and better use of the country’s marine resources.

The initiative forms part of a broader strategy by the Ministry of Fisheries and Blue Economy to grow the sector, attract investment and increase revenues from fisheries.

The government has issued the company’s first operational licence, allowing it to begin activities focused on strengthening the fisheries value chain, from production to processing and marketing.

Haji added the project is expected to create jobs, introduce modern technologies and support coastal communities, while improving conservation and long-term management of marine resources.