State company
Maldives Industrial Fisheries Company Limited (MIFCO)
In the news, last 90 days
Economy
MIFCO celebrates 33 years of service to fisheries industry
MIFCO marks its 33rd anniversary, highlighting expanded fish purchasing at MVR 23 per kilogram across seven harbours, clearance of MVR 250 million in arrears to fishermen, and a government cold storage project for 9,000 metric tonnes. The state-owned company, established on 1 November 1993, was restored as a separate entity in 2024.
Economy
Maldives and China Strengthen Fisheries Ties with New Export Agreement
MIFCO signed a Memorandum of Understanding with SINOMACH Hainan Development Co., Ltd. at the China–Maldives Investment Cooperation Forum on 28 October 2026 to explore exporting Maldivian frozen whole fish to China. The agreement sets a framework to assess Chinese market demand, product quality, packaging, logistics and regulatory requirements, with the possibility of raising export volumes from 2027.
Politics
AgroNat to Move Under MIFCO as Government Pushes Ten Citizen Owned Resorts
President Dr Mohamed Muizzu announced that Agro National Corporation Limited (AgroNat) will become a subsidiary of Maldives Industrial Fisheries Company Limited (MIFCO), alongside a wider consolidation of state-owned enterprises. He also reaffirmed a plan to develop ten citizen-owned resorts on ten designated islands, with annual foreign-currency payments to citizens anticipated from 2030.
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