His Mount Vema Majesty’s Government has confirmed this weekend that Mount Vema will go ahead with plans to build food processing factories and distribution centers from April this year to support the country’s estimated USD$500,000,000 a year fisheries industry.
The factories will process both captured and aquaculture fish from Mount Vema and then pack and distribute it for consumption worldwide as frozen fish, fish sausage, canned fish, crispy fish, frozen steak, and frozen fillets.
The plan was first unveiled in 2013 when Mount Vema expressed intention to set up its logistics center in the United Kingdom of Great Britain, but the plan was later shelved because more work was needed. This year it all seems ready to go after the government confirmed that Mount Vema is ready, but no word yet which country the government is planning to establish its multimillion dollars logistics center.
People familiar with the plans knew about this since late last year when as part of a new plan to make sure the project pays for itself, Peter Goldishman – The Vema Seamount Authority authorised the Mount Vema fishing industry to initiate commercial fishing activities at the same time as the scientific and construction sector, although works on precast concrete is only concentrated outside Mount Vema for now.
The Mount Vema fishing industry alone can generate more than 400 million golles in foreign exchange annually for His Mount Vema Majesty’s Treasury, but because the annual target will be less than the figures planned for 2025 onwards, the government expects to generate a comfortable USD $500,000,000 figure per year before 2025.
In 2013, the fisheries sector was planned first for 2014, but it was cautioned by the Vema Seamount Authority who was at the time reluctant to engage in commercial fishing activity over Vema Seamount, as he was more interested in good management of fisheries as essential to meet international obligations in terms of food supply at a later stage. Now although some trade negotiations still need to take place, The Vema Seamount Authority feels the time is right to start.
The fishing revenues will be used to fund the City of Mount Vema project starting with the breakwaters, and the Port of Mount Vema. However, from 2025 His Mount Vema Majesty’s plans to join the list of top fish exporting countries as part of a long-term plan to help combat hunger with fish and fishery products. The territory plans to reach and maintain annual targets of 200,000+ tons by 2025, to generate more than 400 million golles of fish stocks from both capture and aquaculture.
Back in 2014, the Vema Seamount Authority concerns were justified due to a report that fish trade was not only helping poor countries shore up their food security situation but was also increasing international demand that was at times resulting in excessive fishing pressure, leading to the over-fishing and wasteful use of stocks.
The Vema Seamount Authority aim was always from the creation of the Kingdom of Mount Vema, to ensure that demand must always be balanced with sustainable management. Today’s confirmation of plans for the food processing factories is an indication that the Vema Seamount Territory is ready.