Fishery Improvement Projects (FIP) are incentive-based management schemes, particularly useful in small-scale fisheries. Despite its economic importance in terms of jobs and economic revenue, the Red Snapper Fishery in the Sonda de Campeche lacks a management system that ensures its sustainability. Our objective was to describe the governance system structure of the fishery improvement project for this fishery. We developed a stakeholder map to identify the primary sectors of the system, representative actors within these sectors, their roles, and the interactions between them. Data were collected through structured interviews with representative actors from all sectors. We used network analysis tools to determine the role of each actor and the various relational roles they play within the system. Our findings indicate that the leading actors belong to the governmental and productive sectors, with limited participation from the academic and Non-governmental Organizations. Federal and state government entities were identified within the governmental sector, while fishers and wholesale traders were prominent in the productive sector. We conclude that the governance system is highly centralized, concentrating decision-making in a few key actors, including governmental institutions, wholesalers, and academia. Promoting and including underrepresented sectors could provide support and balance in decision-making, thereby improving the governance and sustainability of the system.