- In an effort to promote business sustainability and investment growth through partnerships within the marine and fisheries sector, the Minister of Marine Affairs and Fisheries ("Minister") has decided to revise various provisions that address the list of businesses that are open to partnerships under the new framework of Regulation No. 31 of 2023 ("Regulation 31/2023"), which has been in force since 13 October 2023.
- In essence, Regulation 31/2023 allows for certain business operations (i.e. fish breeding, fish farming, salt production/extraction, etc.) to be conducted through partnerships that are arranged between the following parties: 1) Large-scale enterprises and micro-, small- and/or medium-scale enterprises; 2) Medium-scale enterprises and micro- and/or small-scale enterprises; 3) Large-scale enterprises and cooperatives; or 4) Medium-scale enterprises and cooperatives.
- The above-described partnerships should be carried out in line with the following business stages: 1) Pre-production; 2) Production; 3) Post-production; 4) Processing; and/or 5) Marketing.
- Finally, partnerships themselves may take the following forms: 1) Core-plasma; 2) Sub-contract; 3) Franchise; 4) General trade; 5) Distribution and agency; 6) Supply chain; and 7) Other forms of partnership (i.e. profit sharing, operational collaborations, joint ventures and outsourcing).
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