President Dr. Mohamed Muizzu has stated that the changes brought to the Maldives Industrial Fisheries Company (MIFCO) will bring progress to the fisheries industry.
The President made these remarks while responding to a journalist's question at a press conference held at the President's Office yesterday, regarding whether the intended purpose of ending MIFCO's status as a subsidiary of the State Trading Organization (STO) and designating it as a 100% state-owned enterprise was being adequately achieved.
The President stated that removing MIFCO as a subsidiary of STO and transforming it into a separate company was done with a very noble purpose. He added that it was to strengthen MIFCO's management and bring progress to the fisheries industry.
Noting that many efforts have been made to strengthen the company's management during the time MIFCO has been a separate company, the President said that although a foreign CEO was brought in to run the place, it did not proceed well. However, he expressed great confidence in the newly appointed CEO, Retired Brigadier General Farhath Shaheer.
"It will be very efficient (to proceed) at the level we desire. Furthermore, corruption will not take place there. I want to make all companies into entities where the doors to corruption are closed," the President said.
The President reiterated that the changes brought to MIFCO will bring progress to the fisheries industry. He also described the ongoing development project in Kooddoo as a significant advancement for MIFCO.
