Holm voices concerns over development quotas in Norway’s fishing industry

Dennis Holm, the Minister of Fisheries, recently expressed concern over the free distribution of development quotas, which are now being sold for substantial sums. He noted that this situation arose from the rollback of legislation concerning ocean resources in 2019, a policy implemented during the last term of the current government. “Now we are witnessing the consequences, as development quotas have suddenly become tradable,” Holm stated.

He acknowledged that there is little that can be done about the existing situation at this moment. However, Holm plans to introduce a new legislative proposal this autumn aimed at preventing large companies that purchase these development quotas from becoming excessively dominant in the market.

Holm’s comments come as the issue of quota management continues to be a contentious topic within the fishing industry. The upcoming legislation is expected to address the balance between small and large enterprises and ensure fair competition.

Listeners can tune in to hear more from Dennis Holm, the Minister of Fisheries, in the news segment at 12:20 PM.