07/10/2025
Completion of the First FSM Fisheries Investment Seminar
Pohnpei, Federated States of Micronesia (FSM) - The FSM proudly announces the successful conclusion of its first Fisheries Investment Seminar, held on October 1–2, 2025. The event, chaired by the National Oceanic Resource Management Authority (NORMA) and organized in partnership with the FSM Department of Resources and Development (R&D), brought together key stakeholders across the four states, industry experts, and potential investors to explore opportunities within FSM’s fisheries sector.
The seminar was preceded by a joint FSM R&D, NORMA, and State R&D workshop, held at the request of His Excellency President Wesley W. Simina, to enhance coordination and prepare a unified approach to fisheries investment and development.
The two-day seminar highlighted FSM’s fisheries potential and sustainable management practices through a series of presentations, discussions, and networking sessions.
In his opening remarks, Hon. Stevenson A. Joseph, Governor of Pohnpei State, emphasized the importance of strategic investments in fisheries for the region’s economic growth. “We need to be looking at ways on how we can increase our share in a more substantive way in this lucrative industry,” he said. “I believe we have sufficient history, experience, and ideas to make the next bold step and move forward. Let us harness them and do it together—not as competitors, but as partners.”
The event underscored FSM’s ongoing commitment to balancing economic progress with marine conservation. Secretary Elina Akinaga of the FSM R&D reaffirmed this stating, “The FSM relies heavily on tuna fisheries to sustain our livelihoods, economies, and way of life. Tuna is one of our key natural resources for economic development, job creation, and government revenue generation.”
The fisheries industry continues to play a vital role in FSM’s economy, providing significant employment opportunities for local citizens. The domestic fleet currently employs 544 workers, 68% of whom are FSM nationals. Beyond fishing, the sector continues to generate additional jobs through a range of related ventures, including ocean freight shipping, solar power operations, air mail services, and other business initiatives. The recently endorsed National Fisheries Investment Policy provides a clear framework to guide sustainable investments, promote value-adding, and strengthen local participation in the fisheries value chain.
The seminar concluded with a collective call for continued collaboration and investment, recognizing the fisheries sector’s significant potential for sustainable growth.
Participants included representatives from the national and state governments, local fisheries startups, and private sector partners from FSM, Korea, China, Taiwan, Japan, the Philippines, and Honiara. Their participation reflected a shared commitment to fostering partnerships and advancing sustainable fisheries development in the region.
NORMA Senior Fisheries Advisor Eugene Pangelinan expressed appreciation to all participants and partners for their active engagement throughout the event. “This seminar marks an important milestone in our ongoing efforts to attract investments that will support economic development, create opportunities, and ensure that our fisheries continue to benefit the FSM people and future generations,” he said.
FSM’s fisheries industry remains a cornerstone of the national economy, offering vast opportunities for investment, sustainable development, and long-term community benefits.
Western and Central Pacific Fisheries Commission Office of the President, Federated States of Micronesia Pohnpei State Public Information, Office of the Governor Kosrae State Public Information, Office of the Governor Office of the Governor, State of Chuuk YapGov The Vital Group, Micronesia
