MIFCO Looking to Attract Investors and New Business to Maldives Fisheries

The Maldives Industrial Fisheries Company (MIFCO) will always look to attract foreign investors to bring in resources, and new businesses, to add value to Maldives fisheries and its products, CEO Ahmed Shamah Rasheed has said.

“MIFCO has always taken the initiative to explore and expand Maldives’ fish, and marine products, to more the wider global market, and welcomes international investors to invest in canneries, fish storage facilities and even carrier vessels,” Rasheed said while addressing the 18th INFOFISH World Tuna Conference and Exhibition (TUNA 2024) in Bangkok, Thailand.

The CEO said that the state-owned fisheries company plays a vital role in establishing a sustainable marine economy and will be a partner in protecting marine life and building a brighter future for the Maldives.

“Under the special initiative of His Excellency the President, MIFCO is working with the administration to promote sustainable fisheries and to protect Maldives’ marine life,” he said.

The Maldives’ traditional fishery practices, which carry on to this day, are environmentally friendly, and sustainable, with minimal impact on marine life which has been, and continues to be, the secret to the quality of Maldivian fish products, Rasheed said.

“While at the pinnacle of quality, we continue to look at what needs to be done to reduce waste, as well as to research and invest in technology. Our seafood products are manufactured with internationally recognised certifications,” he said.

Rasheed, in the lead up to TUNA 2024, said MIFOC’s main purpose at the event would be to explore new ways to increase the company’s capacity and strengthen the services provided to fishermen.

“MIFCO’s work can be strengthened by working closely with the fishermen. Our aim is to increase income from the fish caught by the fishermen and address challenges faced by the fishermen,” Rasheed had said.

The INFOFISH World Tuna Conference and Exhibition is the largest conference of its kind globally and is attended by the top companies and organisations involved in the processing, marketing, and sale of fish products worldwide.