1Agriculture Economics Dep., Faculty of Agriculture, Benha Univ.
2Animals and Fish Production Dept., Faculty of Agriculture, Azhar Univ
3Former Deputy of National Investment Bank
Abstract
The Egyptian fishing fleet on Mediterranean Sea and the Red Sea has an excessive size, which means that there are number of fishing vessels that could have been working else where or the investments that were allocated for these excessive fishing vessels could have been allocated for other economically viable projects. In 2006, it was estimated in the Mediterranean Sea fishing fleet has about 825 standardized mechanized fishing boats worth of 181,68 that can be allocated else where.In respect to the Red Sea fishing fleet, the excessive number of standardized mechanized fishing boats are 648 units worth of LE 142,7 ml. Reduction programmes in Egyptian fishing fleet-size to tackle overcapacity to reduce the number of fishing vessels by 1473 standardized units worth of LE 324.3 ml. These measures will protect the fishery resources and make fishing economically viable for the remaining fishing vessels in business. Having these programmes implemented will increase the average annual production per standardized fishing vessels in the Mediterranean Sea by 28% and in the Red Sea by 66.6%.
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