Fisheries Minister Ahmed Shiyam has held discussions with China Machinery Engineering Corporation (CMEC) to expedite the implementation of the fisheries and maritime logistics hub project in Addu City.
The discussion meeting, held yesterday at the Fisheries Ministry, was attended by CMEC President Fang Yanshui, the CMEC delegation currently visiting the Maldives, and senior officials from the Fisheries Ministry.
The meeting focused heavily on expediting the implementation of the project and finding ways for immediate delivery. During the meeting, Fang noted the close cooperation of the Ministry and highlighted the importance of this project in further expanding the fisheries sector and the socio-economic development of Addu City.
With the aim of bringing additional momentum to the economic progress of the Maldives, the government signed a Memorandum of Understanding (MoU) with China Machinery Engineering Corporation (CMEC) to carry out the important project of establishing a fisheries and maritime logistics hub in Addu City during President Dr. Mohamed Muizzu's official visit to China in September last year. The agreement for this project was signed on behalf of the government by the Minister of Fisheries and Ocean Resources, Ahmed Shiyam.
This project is an initiative the government has decided to undertake with the aim of expanding and developing modern facilities required to advance the fisheries industry and maritime logistics services in Addu City. The government hopes that this will provide many conveniences to fishermen in the southern atolls and increase the income generated from fisheries.
Under this MoU, the Fisheries Ministry stated that the two parties have agreed to work together extensively to discuss the detailed master plan of the project, financial and economic feasibility studies, as well as the business model and financing options for implementing the project.
This project is a significant initiative that will pave the way for the economic development of the Maldives and open a new door for the development of the fisheries industry in the south. The location of Addu City is considered one of the most suitable areas for advancing the fisheries industry.
