The Māori Fisheries Act in 2004 codified a method of allocation to the 57 iwi, who were able to receive assets once they’d instituted approved management and governance structures. In reality, iwi have only recently been provided with the ability to make long-term business decisions related to their individual transferable quota, some only in the last year ... The changes to use of charter vessels in the deepwater fishery, which is an important component in the iwi quota portfolio, will have a significant economic impact on iwi.
The boards and directors of iwi organisations and their asset holding companies will need to be more creative if they are to maintain value of their Fisheries Settlement assets ... With impending and dramatic changes around the use of Foreign Charter Fishing Vessels, iwi will have to consider alternative, innovative options to what has been conventional business practice and work co-operatively to ensure they advance the best business case for their deepwater quota.
The long-term outlook for the New Zealand seafood industry is extremely positive as global demand for seafood continues to grow. We are developing all the ingredients needed to satisfy consumer demand for a high-quality, safe product that is sustainably produced. Iwi are looking for further opportunities to leverage their ownership of quota as well as their access to aquaculture space.More quotes »
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