The Maldives cabinet decided on Sunday to establish the 100% state-owned Maldives Fisheries and Ocean Resources Marketing and Promotion Corporation to promote fisheries products under a unique Maldivian brand in domestic and international markets, replacing the dissolved Maldives Fisheries Promotion Board. The government expects the initiative to require MVR 37 million to be arranged through next year's budget.
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The decision to establish the new company was reached during a cabinet meeting held on Sunday, Mohamed Shahyb, the Chief Spokesperson at the President’s Office, said.
Word for word from the report in Maldives Republic. Open the report
The corporation’s mission is to promote and market fishery products under a distinctive brand in the local and international market and to position them as premium products while seeking new markets for Maldives’ fisheries sector products.
The corporation’s mission is to promote and market fishery products under a distinctive brand in the local and international market and to position them as premium products while seeking new markets for Maldives’ fisheries sector products
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The government anticipates that this initiative will require an investment of MVR 37 million, which will be arranged through the budget for the next year.
Word for word from the report in Maldives Republic. Open the report
The 100% state-owned enterprise aims to augment the profits of fisheries enterprises that include aquaculture, mariculture, and other marine resources by promoting and marketing Maldives fisheries products, according to the President’s Office.
Word for word from the report in Maldives Republic. Open the report
With the inauguration of the new company, the Maldives Fisheries Promotion Board, which was formed earlier with a similar mandate, has been dissolved.
Word for word from the report in Maldives Republic. Open the report