The Maldivian government has signed an agreement with China Machinery Engineering Corporation (CMEC) to develop a fisheries and maritime logistics hub in Addu City.
The agreement was signed during a ceremony held today at the Wangfujing Hilton Hotel in Beijing, China, as part of the ongoing official state visit by President Dr. Mohamed Muizzu at the invitation of Chinese President Xi Jinping. Minister of Fisheries and Ocean Resources Ahmed Shiyam signed the agreement on behalf of the Maldivian government.
Under this agreement, which aims to accelerate the economic growth of the Maldives, both parties agreed to collaborate extensively and discuss the detailed master plan of the project, financial and economic feasibility studies, as well as the business model and financing options for the project.
The Ministry of Fisheries stated that this project, initiated with the objective of expanding and developing modern facilities and maritime logistics services required to advance the fisheries industry in Addu City, is an important endeavor that will open a new door for the development of the fisheries industry in the south.
