MIFCO Signs Major Deals with Chinese Firm to Boost Fish Storage and Exports

The Maldives Industrial Fisheries Company (MIFCO) has entered a significant partnership with China Machinery Engineering Corporation (CMEC), signing three Memoranda of Understanding (MoUs) to expand critical fisheries infrastructure and export capacity. The agreements were formalized at a ceremony at the Ministry of Agriculture and Animal Welfare. The core projects include establishing a new cold storage and blast freezing facility in Hirilandhoo, Thaa Atoll, and expanding fish procurement and storage operations in Thinadhoo, Gaafu Dhaalu Atoll. The partnership will also expand the capacity of the Addu Fisheries Complex and establish a new fish processing and export factory. According to the ministry, this collaboration with one of China's largest companies is designed to support the sustainable development of the Maldivian fisheries sector. A key goal is to increase exports of value-added fish products, moving beyond the bulk sale of raw catch to capture more economic benefit for the industry. The planned infrastructure upgrades across multiple atolls aim to strengthen the supply chain, reduce post-harvest losses, and provide fishermen with more reliable and efficient facilities. This initiative represents a strategic step to enhance the competitiveness of Maldivian fish in international markets.