Kooddoo

Maldives sees credit upgrade, tourism surge, port relief

Maldives is experiencing multiple positive economic developments: Fitch Ratings upgraded the country's credit rating from 'CC' to 'CCC-', Chinese tourist arrivals surged 26% reclaiming top source market status, and Colombo Port disruptions that stranded 4,200 containers have been resolved. State-owned MIFCO is also undergoing a major transformation under new CEO Mohamed Anas.

MIFCO undergoes major transformation under new leadership

MIFCO is undergoing a major transformation under new CEO Mohamed Anas. He visited the Kooddoo Fisheries Complex and outlined plans to modernize operations, improve salaries, enhance financial capacity through diversification, explore new markets, and add value to products. Anas urged employees to maintain strong work ethics and collaborate. He has been visiting MIFCO centres across the country.

MIFCO Faces Backlash Over Layoffs

MIFCO faced backlash after laying off approximately 30 staff from Kooddoo Fisheries Complex, citing irresponsibility, though employees disputed this. The dismissal notice for Ahmed Shain by HDC, dated 8 July, was claimed to be political by MDP. HDC and MIFCO defended actions as policy-based. The layoffs contradict President Muizzu's campaign promise against politically motivated dismissals. Fiscal reforms remain pending cabinet approval.

Minister Shiyam Pledges MVR 100 Million to Settle Overdue Payments to Fishermen by Monday

Parliamentary Motion Calls for Prompt Settlement of Fishermen’s Dues as Protest Continues in Kooddoo

Fishermen at Kooddoo Protest Over Unpaid Dues; Government Promises to Clear Outstanding MVR 280 Million by 5 March

FSM Increases Fuel Pump Capacity at Kooddoo