MIFCO and Chinese Firm Sign Three Deals to Boost Maldives Fish Storage and Exports

The Maldives Industrial Fisheries Company (MIFCO) has formalized a partnership with China Machinery Engineering Corporation (CMEC) to significantly upgrade the nation's fisheries infrastructure and export capabilities. The two entities signed three Memoranda of Understanding (MoUs) at a ceremony held at the Ministry of Agriculture and Animal Welfare. The agreements outline concrete plans to enhance cold storage and processing facilities across three atolls. A key project involves establishing a new cold storage and blast freezing facility on Hirilandhoo island in Thaa Atoll. In Thinadhoo, Gaafu Dhaalu Atoll, the partnership will expand fish procurement and storage operations. The third agreement focuses on upgrading the Addu Fisheries Complex, increasing its capacity to procure and store fish. It also includes plans for establishing a dedicated fish processing and export factory. The Ministry stated that partnering with CMEC, one of China's largest companies, will support sustainable fisheries development in the Maldives. A core objective is to increase exports of value-added fish products, moving beyond raw commodity sales to capture more economic value from the industry.