The upcoming factory, built in partnership with a Chinese company, is designed to process and package 100 tonnes of canned tuna daily.
MIFCO
The fishing industry has been a cornerstone of the Maldivian economy for centuries, playing a crucial role in the livelihood of its people. Beyond providing a primary food source for households across the nation, fishing has historically served as a significant source of employment, fostering economic growth and sustaining local communities. While tourism has become the dominant economic sector in recent decades, the Maldives continues to be globally recognized for its sustainable fishing practices, producing some of the world’s finest seafood. Maldivian tuna, in particular, is highly sought after for its quality, representing a tradition and a valuable export commodity.
As the Maldives seeks to further diversify its economy, expanding the fishing industry has emerged as a priority. The focus is not only on increasing local production but also on enhancing export capabilities to make the sector more profitable on an international scale. Recognizing this potential, President Dr. Mohamed Muizzu has announced the development of a fish-packing factory on the island of Gaafu Dhaalu Fiyoari. This ambitious project is expected to revolutionize the fishing industry in the atoll, creating a hub for processing and exporting fish products.
The upcoming factory, which will be built in partnership with a Chinese company, is designed to process and package 100 tonnes of canned tuna daily. Additionally, it will include advanced cold storage facilities with a 3,000-tonne capacity and an ice plant capable of producing 50 tonnes of ice per day. These facilities aim to address the growing demand for Maldivian fish products in international markets while ensuring sustainable practices are upheld. The agreement for the project is scheduled to be signed within February 2025, with construction anticipated to commence within two months.
President Muizzu emphasized the importance of this project as a transformative step for the fishing industry. By establishing such a factory, the government aims to unlock the untapped potential of fisheries in the southern atolls, creating jobs and empowering local communities. The facility will serve as a catalyst for economic development in the region, ensuring that the benefits of this growth are shared broadly.
This initiative highlights the government’s commitment to strengthening the fishing sector while positioning the Maldives as a leader in sustainable fisheries on the global stage. By enhancing export capabilities and introducing modern facilities, the Maldives is poised to reaffirm its reputation for high-quality fish products, contributing to a more robust and diversified economy.
