The fisheries sector in developing countries, including Pakistan, faces various risks that have not been comprehensively studied and addressed through policy measures. This study aims to analyze fisheries’ risks in Pakistan by following a risk management process and using statistical analysis. The data was collected through structured questionnaire surveys, and subsequently, fuzzy analytic hierarchy process (fuzzy AHP) and importance performance analysis (IPA) were utilized to analyze the data. The study ranked the top five risks in order of importance as management, technical, economic, environmental, and occupational risks. The study also identified high-importance, low-performance sub-factors, including inadequate legislative implementation, overexploitation, and infrastructure shortages. It was found that there is low risk perception and inadequate management regulations in the sector. The findings suggest that risk management strategies, such as risk avoidance and risk transfer, can be used to mitigate fisheries’ risks. The study highlights the need for policy measures to revitalize the fisheries sector in Pakistan and provides recommendations for further research.

COVID-19 has impeded the internationalization of enterprises and sustainable digital economic growth. This situation has led to enterprises adopting divestment strategies to deal with multiple risks. However, the successful implementation of strategies depends on understanding the perceptible risks. Due to risk management failures or unexpected risks, strategic management has attributed withdrawal to production costs or marketing, but risk management has never addressed it. Moreover, small enterprises are more vulnerable to risks than large ones. For the first time, this study fills a gap in the literature by combining Dunning’s investment motives theory with the COSO risk management process theory to examine small enterprise risk perception in China. China has seen a growing number of foreign direct investment (FDI) withdraw. Different risks should have been faced and managed if these were determined to be efficiency-seekers or market-seekers. This research context led to a survey of 498 FDIs, including market-seeking or efficiency-seeking types, to identify perceived risk, managed risk, and value risk outcomes. The Statistical Package for the Social Sciences (SPSS) 18.0 program was used for frequency analysis of general characteristics and exploration of factor analysis, whereas, Analysis of Moment Structures (AMOS) 18.0 was used to perform a confirmatory factor analysis and develop a structural equation model. The obtained results indicate that market efficiency-oriented enterprises can modify their strategies by implementing digital transformation and localization strategies. In contrast, production efficiency-oriented enterprises will divest because of risks, without finding a better strategy.