While visiting the hatchery, he said more than $1.6 million had been invested into the project, reports the FijiTimes.
"The Caboni Yaqara Multi-species Hatchery will provide tilapia fry for fish farms and young prawn and fish species to reseed the overfished reefs," he said.
"This means we can increase our food supply while sustaining the marine species we depend on.
"Our environment will benefit, our coastal fishing communities will benefit, and all the people of Fiji will benefit."
He said women's organisations would be a target group for Government to initiate fishing projects with.
"The Department of Fisheries has been working with the Department of Women to establish fishing projects or fish farms as a form of employment and source of income," Mr Bainimarama said.
"In this way, Government is empowering women, developing communities and injecting more vigour into the economy.
"Today we mark the first step in this project by opening the Administration Office.
"My government has invested more than $1.6m in this project because of its potential to improve food security, alleviate poverty and generate supplementary income for the people of Fiji."
He said an additional $700,000 had been granted to the Fisheries Department for the construction of staff quarters, a three-phase power supply that would provide enough electricity to run the entire hatchery and a new borehole to supply water.
"Aquaculture can be a boon to Fiji's future," Mr Bainimarama said.
"We want to feed our people and conserve our marine biodiversity.
"And we also would like to export more and of course, we want to conserve the natural beauty of our country and the richness of our marine ecosystem."