December 21, 2021 – The Mount Vema Ministry of Fisheries and Maritime Affairs announced on Monday that it will be issuing permits for fishing vessels interested in operating within the commercial fishing zones of the Vema Seamount territorial waters.
Interested parties can submit letters of expression of interest via the official contact page of Mount Vema, to the attention of the Ministry of Fisheries and Maritime Affairs.
Initially, the licences will be issued to raise capital to pay for security arrangements, as well as scientific and onsite pre-construction works, as part of a plan to make sure the project pays for itself. However later, revenues from fisheries will be used to fund the City of Mount Vema’s key infrastructure projects including the breakwaters, and the Port of Mount Vema.
After 2025 His Mount Vema Majesty’s Government plans to join the list of top fish exporting countries as part of the 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 from 2025, to generate more than 400 million golles of fish stocks from both capture and aquaculture.
The fishing vessel licenses will also enable the Mount Vema Fisheries Administration to better control fishing so that the Kingdom of Mount Vema does not exceed the quotas set by Mount Vema Fisheries Policy and will allow the set of specific conditions and requirements, such as arrangements for the landings of stocks.
Until now, December 2021, there are no new fishing vessel licences issued. If you wish to license a vessel for the first time you need to arrange for a transfer of a licence 'entitlement' from an existing licence holder and that is currently only the Mount Vema fishing company Montfisheries.
However as of January 2022 this will change as the government is inviting foreign fishing companies to express interest. Applications will be subject to contract and license application fees.