MIFCO and China's CMEC Sign Deals to Expand Fisheries Cold Storage and Export Capacity

The Maldives Industrial Fisheries Company (MIFCO) has entered a significant partnership with China Machinery Engineering Corporation (CMEC), signing three Memoranda of Understanding to strengthen fisheries infrastructure and boost export capabilities. The agreements were formalized at a ceremony held at the Ministry of Agriculture and Animal Welfare, targeting enhanced cold storage and processing facilities across key atolls. Key initiatives include establishing a cold storage and blast freezing facility in Hirilandhoo, Thaa Atoll, and expanding fish procurement and storage operations in Thinadhoo, Gaafu Dhaalu Atoll. These projects aim to reduce post-harvest losses, improve supply chain efficiency, and support local fishermen by providing better storage options for their catches. Additionally, the MoUs cover the expansion of the Addu Fisheries Complex's capacity to procure and store fish, along with the establishment of a new fish processing and export factory. This development is expected to add value to Maldives' seafood products, enabling more competitive offerings in international markets such as processed fillets and packaged goods. According to the ministry, this collaboration with one of China's largest companies aligns with sustainable fisheries development goals. By modernizing infrastructure, MIFCO seeks to increase value-added fish exports, contributing to economic growth and creating improved opportunities for fishing communities across the archipelago. The enhanced facilities are poised to bolster the blue economy, leveraging Maldives' marine resources for long-term prosperity.