MIFCO, Chinese Firm Sign Deals to Boost Fish Storage and Export Capacity

The Maldives Industrial Fisheries Company (MIFCO) has signed three agreements with China Machinery Engineering Corporation (CMEC) to significantly expand the country's fisheries infrastructure and export potential. The Memoranda of Understanding (MoUs), signed at the Ministry of Agriculture and Animal Welfare, target key logistical bottlenecks in the industry. The agreements focus on constructing new facilities and upgrading existing ones across three atolls. A new cold storage and blast freezing facility will be built in Hirilandhoo, Thaa Atoll. Operations will also expand at the Thinadhoo facility in Gaafu Dhaalu Atoll to increase fish procurement and storage. In the southern atolls, the Addu Fisheries Complex will see its capacity for procuring and storing fish enhanced. The partnership also includes plans to establish a dedicated fish processing and export factory, aiming to move the industry toward higher-value products. The Ministry states that collaborating with CMEC, one of China's largest engineering firms, will support the sustainable development of the Maldivian fisheries sector. The core objective is to increase exports of value-added fish products, which can fetch higher prices in international markets compared to unprocessed catch. This infrastructure push is designed to improve efficiency from the point of catch to export, directly impacting the livelihoods of fishermen across the islands.