China’s CMEC contracted to develop fisheries hub in Addu

The Maldivian government has signed a Memorandum of Understanding (MoU) with China Machinery Engineering Cooperation (CMEC) for the development of a fisheries and maritime logistics hub in Maldives’ southernmost Addu City.

The MoU was signed on Tuesday as part of President Dr. Mohamed Muizzu’s recent official visit to China at the invitation of Chinese counterpart Xi Jinping to participate in the Shanghai Cooperation Organization (SCO) Summit.

According to Fisheries Ministry, the project will open doors to further develop fisheries in Maldives’ southern region. The Ministry identified Addu City as an ideal location to develop fisheries.

The Ministry stated that the project aims to establish state-of-the-art facilities and maritime logistics services in Addu City, which are essential for the development of the region’s fisheries sector. It added that the project will create opportunities for increased income for fishermen in the south.

Both sides agreed to engage in discussions and collaborate on developing a detailed master plan for the project, conduct research on its financial and economic benefits, formulate a business model for its operation, and identify financing options under the MoU.

Notably, the government’s fisheries company, Maldives Industrial Fisheries Company (MIFCO), announced in August that the company was working on establishing arrangements to directly export fish abroad from Addu City.

In this regard, MIFCO said they planned to commence directly exporting fish abroad from Addu City within a month, with efforts also underway to add value to fish exported from Addu within this year.

MIFCO has recently commenced purchasing fish from Fuvahmulah City, another southern city.