Maldives and China Forge Fisheries Deal to Expand Cold Storage Capacity

In a significant boost to the fisheries sector, the Maldives Industrial Fisheries Company (MIFCO) has signed three memoranda of understanding with China Machinery Engineering Corporation (CMEC) to enhance cold storage infrastructure and increase fish exports. The agreements were formalized at a ceremony held at the Ministry of Agriculture and Animal Welfare. They include plans for a cold storage and blast freezing facility in Hirilandhoo, Thaa Atoll, and expanded fish procurement and storage in Thinadhoo, Gaafu Dhaalu Atoll. Additionally, the Addu Fisheries Complex will see capacity improvements for fish procurement and storage, along with the establishment of a fish processing and export factory. The ministry highlighted that this partnership with CMEC, one of China's largest companies, will support sustainable fisheries development and promote value-added exports. Fisheries are a cornerstone of the Maldivian economy, and these infrastructure projects aim to reduce post-harvest losses, improve product quality, and create economic opportunities for local communities. MIFCO's collaboration with CMEC is expected to strengthen the country's position in the global seafood market.