The subject of investment identification was covered within the text of the programmes of action adopted by the FAO World Conference on Fisheries Management and Development with Programme 1 coverning the planning, management and development of fisheries. The appropriate paragraphs for the project are:
one of the objectives of the Programme will be to advise governments on investment in fisheries. Experience shows that much investment in fisheries has been misdirected, increasing the exploitation of resources that are already becoming heavily fished, while other more productive areas of investment have been neglected. Additional investment on the catching side has to be undertaken very selectively and carefully, especially where a new industrial fishery may compete with existing small-scale fisheries. Opportunities for investment in catching capacity exist where coastal States have decided to replace foreign fishing vessels by a national fleet. The greatest needs for investment in such cases appear to be in the development of infrastructure facilities and of better methods of processing and distribution which will increase the benefits from a fixed volume of catch;
the emphasis of this element of the Programme will be on a better use of investment funds. This requires a multi-disciplinary approach, based on the results of planning missions and, where appropriate, pilot development projects, which should be undertaken in close collaboration between FAO, with its full range of technical expertise, and the various international banks and other funding agencies. It is desirable that this collaboration start at the earliest stage of investment identification, and that technical assistance and investment work in harmony through all the subsequent stages of development, including such technical matters as appropriate technology for vessels, gear, processing and distribution. Investment plans should be an integral part of fishery development planning process.
