MIFCO and China's CMEC Seal Deals to Expand Fisheries Infrastructure, Boost Exports

The Maldives Industrial Fisheries Company (MIFCO) has signed three memoranda of understanding with China Machinery Engineering Corporation (CMEC) to strengthen fisheries infrastructure and export capacity. The MoUs were formalized at a ceremony held at the Ministry of Agriculture and Animal Welfare. These agreements target specific enhancements across the archipelago. A cold storage and blast freezing facility will be established in Hirilandhoo, Thaa Atoll, while fish procurement and storage capabilities will be expanded in Thinadhoo, Gaafu Dhaalu Atoll. Furthermore, the Addu Fisheries Complex is set for increased procurement and storage capacity, alongside the establishment of a dedicated fish processing and export factory. According to the ministry, partnering with CMEC—a major Chinese corporation—will advance sustainable fisheries development in the Maldives. The initiative is designed to increase value-added fish exports, potentially boosting economic benefits for the fishing communities and contributing to the nation's blue economy.