Ministry of Fisheries

What Ministry of Fisheries does

Vinnumálaráðið, operating under the trade name Ministry of Trade and Industry and referred to here as Ministry of Fisheries, is a government ministry of the Faroe Islands (Føroya Landsstýri) headquartered at Gongin 7, Tórshavn, with 575 employees. It is the principal Faroese ministry responsible for trade, industry, fisheries (sjóvinna and alivinna/aquaculture), agriculture, tourism, telecommunications, competition policy, hydrocarbons, food regulation, insurance, labor union affairs, municipal oversight, outer-island development, transportation, and immigration. The ministry is led by Minister Jacob Vestergaard and operates through twelve internal divisions and advisory bodies, including Sjóvinnuráðið, Siglingarráðið, Kappingarráðið, Tryggingarráðið, Samstarvsráðið, Grannskoðaraeftirlitið, Disciplinernevndin, Heilsunevndin fyri sjófólk, and four public funds (Vinnuframagrunnurin, Framtaksgrunnurin, Búagrunnurin, Búnaðargrunnurin), as well as operational oversight of Strandfaraskip Landsins (national ferry service), Akstovan (vehicle authority), and Landsverk (public infrastructure). The ministry also engages in Nordic-level fisheries cooperation through the Nordic Council of Ministers for Fisheries Cooperation.

The ministry does not produce commercial technology products; its primary 'product' is the official government service portal at vmr.fo, which publishes news (Tíðindi), public consultation proposals (Uppskot til ummælis), parliamentary question responses, and job vacancies (Leys størv). Core technology is described as standard government administrative systems and public service delivery platforms, with no proprietary software features disclosed and no APIs, SDKs, or mobile applications offered. There are no AI/ML capabilities, no patents, no trademarks, and no commercial integrations in the dataset.

The ministry has no commercial revenue model: it is funded exclusively through public taxation and government appropriations, with no pricing structure, no paying customers, no sales channels, and no go-to-market motion. Operating geography is restricted to the Faroe Islands (FRO). Recent strategic activity includes the June 2026 appointment of Dánjal Samuelsen as director of Strandfaraskip Landsins, receipt of a seabed minerals report on the continental shelf, and a May 2026 Nordic funding call for fisheries and aquaculture projects.

Name

Ministry of Fisheries

Legal name

Vinnumálaráðið

Website

https://fisk.fo

Company type

Private

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Vinnumálaráðið (Ministry of Trade and Industry) is a government ministry of the Faroe Islands, headquartered in Tórshavn with 575 employees, responsible for regulating and administering trade, fisheries, aquaculture, agriculture, tourism, telecommunications, and related sectors.

Ownership category

akta.pro rank

Product category

Government Administration and Fisheries Regulation

NAICS

Regulation of Agricultural Marketing and Commodities (92614), Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors (92615), Administration of Environmental Quality Programs (924), Aquaculture (11251)

akta.pro industry

PRIMARYBPAIAMAI

Coastal & Marine Resources Administration (Oceans, Fisheries, Shorelines)

Business & Public Services/Public Sector & Government Administration/Environmental Protection & Natural Resources Administration

SECONDARYBPAIAAAO

Agriculture, Fisheries & Food Administration

Business & Public Services/Public Sector & Government Administration/Central/Federal Government Administration

SECONDARYBPAIABAL

State/Provincial Environmental Protection & Natural Resources Administration

Business & Public Services/Public Sector & Government Administration/State/Provincial & Regional Government Administration

SECONDARYAFAEANAE

Aquaculture & Fish Health Services

Agriculture & Food Production/Animal Production & Aquaculture/Animal Health & Veterinary Services

SECONDARYBPADANAF

Sanitary & Phytosanitary (SPS) & Food Safety Regulatory Cooperation

Business & Public Services/International Organizations & Development/International Standards, Policy & Regulatory Cooperation

SECONDARYBPAIABAO

State/Provincial Licensing, Permitting & Regulatory Administration (Cross-sector)

Business & Public Services/Public Sector & Government Administration/State/Provincial & Regional Government Administration

Keywords

• Fisheries regulation
• Aquaculture policy
• Government administration
• Industrial policy
• Maritime governance

Headquarters

HQ city

Tórshavn

HQ country

Faroe Islands

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Marketing channels3 records

Core offering

Vinnumálaráðið (Ministry of Trade and Industry, also known as the Ministry of Fisheries) is a government ministry of the Faroe Islands responsible for policy development, regulatory oversight, and grant administration across fisheries, aquaculture, trade, industry, agriculture, tourism, telecommunications, competition, hydrocarbons, food products, insurance, transportation, municipal oversight, and immigration sectors. It administers public support funds (Vinnuframagrunnurin, Framtaksgrunnurin, Búagrunnurin, Búnaðargrunnurin) and operates advisory councils and boards (Sjóvinnuráðið, Siglingarráðið, Kappingarráðið, Tryggingarráðið).

Product overview

Vinnumálaráðið (Ministry of Trade and Industry) operates as a government ministry website rather than a commercial product company. The ministry provides informational services and administrative functions across multiple sectors including fisheries (sjóvinna/alivinna), agriculture, tourism, telecommunications, competition policy, food regulation, municipal oversight, transport (via Strandfaraskip Landsins), and immigration. The website serves as a portal for news, job postings, public reports, and ministry information.

Differentiator

Problem solved

Functional benefit

Products and services

• Vinnumálaráðið Official Website (vmr.fo) Official government ministry website providing information and services related to trade, industry, fisheries, agriculture, tourism, telecommunications, competition, hydrocarbons, food, municipal affairs, transport, immigration, and labor matters for the Faroe Islands. Includes news section, public consultation proposals, parliamentary question responses, and job postings.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves5 records

Expansion highlights4 records

Direct peers

• Norwegian Ministry of Trade, Industry and Fisheries: Closest functional peer — oversees trade, industry, and fisheries policy in Norway, another Nordic economy with a major seafood sector. Comparable regulatory powers, fund administration, and Nordic cooperation mandate.
• Icelandic Ministry of Industries and Innovation: Handles fisheries, aquaculture, and industry policy in Iceland, another small North Atlantic economy heavily dependent on seafood. Directly comparable mandate and population-scale economy.
• Danish Ministry of Food, Agriculture and Fisheries: Manages fisheries, agriculture, and food regulation for Denmark, including oversight of foreign affairs affecting the Faroe Islands. Shares regulatory philosophy, sectoral scope, and Nordic administrative tradition.

Regional players

• Government of Greenland (Naalakkersuisut) - Department of Fisheries, Hunting and Agriculture: Administers fisheries and aquaculture policy in Greenland, another small North Atlantic self-governing territory with a seafood-driven economy. Closely comparable scale, mandate, and climatic operating context.

Broad incumbents

• UK Department for Environment, Food and Rural Affairs: UK government department handling fisheries, agriculture, food, and environmental policy. Larger scope and budget but functionally analogous to the Faroese Ministry's trade and industry portfolio.
• Nordic Council of Ministers: Inter-parliamentary body funding Nordic cooperation projects including fisheries. Already an active partner of the Ministry, providing project funding and policy coordination across Nordic states.
• European Commission - DG MARE: Sets EU fisheries, aquaculture, and maritime policy that shapes Faroese trade access to EU markets. Functions as a higher-level regulator whose frameworks this Ministry must implement and negotiate against.
• Scottish Government - Marine Directorate: Oversees marine and fisheries policy in Scotland with similar regulatory and quota-management responsibilities. Comparable in fisheries expertise but operates within a larger UK devolved framework.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ministry-of-fisheries

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ministry of Fisheries