The Honourable Minister Ribanataake Tiwau led the Kiribati delegation to their annual shareholders and board of directors meeting of the Kiribati joint venture companies in China from 12th to 16th May 2025. His delegation comprised of Secretary Riibeta, Ambassador David from the Kiribati Embassy in China, Directors from MFOR, together with the Board Directors of the Joint Ventures from Kiribati. The Honourable Tiwau was unanimously appointed Chair by all the shareholders and board directors at these joint venture board meetings (KFL, KIFL, KFTL and KBPL). It was pleasing to note that the operations of these Joint Ventures continue to grow each year, and this year we are pleased to report that a combined dividend of AUD$8.2 million was declared by all Joint Venture companies which benefit the shareholders. This dividend is in addition to around AUD$52 million that all 4 JV provided for their license fees of their vessles to fish in our waters. The KBPL, the newest company of the JV, started its operation in 2024. The shareholders of these 4 Kiribati Joint Venture companies are extremely huge and reputable Chinese-based companies such as the Shanghai Deep Sea, Ocean family of the Wanxiang Group and the Zhoushan Yinghai Fisheries Group. At the meetings, the Honourable Minister Tiwau discussed other potential investment opportunities with these shareholders and visited some of the facilities such as the fisheries wharf, canning facilities, battery factory, hotels, construction sites for new facilities and many more. The Government of Kiribati acknowledged its Chinese shareholders for the genuine and lasting partnership that has contributed to the major development of the fisheries sector in Kiribati.