A lack of investment in the fishery industry is creating some difficulties for one of the oldest supplies of fresh food. Susan Singh- Renton of the Caribbean Regional Fisheries Mechanism explained that low or the lack of investment in the industry has been the same for decades.
“There is no investment in the fishing industry, maybe because many investors find it difficult to invest in what they cannot see, they can’t see what lies beneath the sea and that provides some difficulties,” she said.
She contends that administrative and legal frameworks have remained very basic and are now outdated to cope with emerging challenges.
Describing the oceans as high risk and unpredictable, Singh-Renton said that our “open access arrangement” makes the fishery sector common property.
“Many of our countries are reluctant to introduce a limited system of licensing and it affects the amount of investment in the industry. There is an underestimated performance, again because of the low-investment we are not able to really record properly the performance indicators of the industry and this is a concern”
The CRFM Official said that the industry continues to be marginalised when it comes to national planning in many countries.
“We may not be getting the best compromise because of the fact that we do not understand our fishery sector,” she pointed out
Date from CRFM suggests that the fishery sector provides direct employment for some of some 338,000 persons and provides the region with an income of some US$251 million.