A consultation with Dr. Salome Tupou Taufa about Rights-based management (RBM) and Foreign investment, transparency, pricing and changes was held last week at the Ministry of Fisheries. Cabinet approved the Tonga Fisheries Sector Plan (TFSP) in 2016 which contains over 120 actions. One of the priority actions was further discussion with stakeholders before deciding on a course of action with RBM.
The goal of the consultation is the possibility of establishing RBM in Tonga as a means of managing limited marine resources. The aim is that RBM would lead to better economic outcomes by assigning private property rights over resources, with fishing controls that enhance the sustainability and value of those resources.
That is to say, our fisheries resources should be managed with the dual aims of long term sustainability and long term economic benefits – both for the industries that take the risks, as well as the nation as a whole.
Foreign investment, transparency, pricing and changes aim to:
• Analyze and provide national dialogue to propose on a range of issues including foreign investment in fisheries and aquaculture.
• Develop a fisheries investment framework and investment policy, including a review of current investment incentives and guidelines on foreign investment.
• Prepare an aquaculture investment policy, with specific attention to foreign investment.