STO to introduce Noofahi to international markets

The main focus of the State Trading Organization (STO) is to introduce their novel brand Noofahi to international markets, STO’s Managing Director Adam Azim has said.

Speaking to Sun Online today, Azim said that STO also wants to ensure that Noofahi products are used in every household around the country. A public limited company such as STO has the capability to take the brand to international markets, he added.

“You have to have a vision to succeed. Our vision is for Maldivian products to get a firm grip in the international market,” said Azim.

“We can market to India and Sri Lanka. If Sri Lankans can come to Maldives and market their products, we don’t see why we can’t market our products in those countries,” Azim said. “Maldives does not have to be large to market its brand in another country. This just requires good marketing ideas and principles.”

Noofahi products are currently packed overseas and sold in the local market. Azim said that STO will establish factories in the next four to five years to begin processing Noofahi products in the Maldives. Initial machinery that can pack and assemble the products the will cost the company around $15 million, he said.

STO Noofahi products will be sold 10 to 15 percent below the market price, and STO will be able to provide necessary goods to the public at reasonable prices by promoting its own brand, Azim said.

He also noted that public support for Noofahi is increasing, and said that the first container of goods sold out within two weeks. STO sells cooking oil, powered milk, coconut oil and detergent under its Noofahi umbrella.