As part of the Fisheries Ministry's efforts to develop the Maldives' mariculture industry to modern standards, a Memorandum of Understanding has been signed with Hongdong Fishery Corporation, a notable company in China's mariculture sector.
The MoU was signed on behalf of the Maldives by the Minister of Fisheries and Ocean Resources, Ahmed Shiyam.
This MoU was signed on the sidelines of the President's ongoing official visit to China. This visit is at the special invitation of Chinese President Xi Jinping to participate in the Shanghai Cooperation Organisation (SCO) summit.
The purpose of signing the MoU with Hongdong Fishery Corporation is to facilitate the necessary arrangements for the investments the company is preparing to make in the Maldives.
Developing mariculture as a distinct industry is a goal of President Dr. Mohamed Muizzu. It is also a notable effort among the work he is undertaking with special priority to develop the fisheries sector.
Furthermore, an agreement has also been signed with China Machinery Engineering Corporation (CMEC) to establish a fisheries and maritime logistics hub in Addu City. This project is an important initiative that will pave the way for the country's economic development and open a new door for the development of the fisheries industry in the south.
