In a move to boost the nation’s fishing industry and promote Maldivian products globally, President Dr. Mohamed Muizzu announced the establishment of Maldives Fisheries and Ocean Resource Marketing and Promotion Limited today.
The newly-formed company holds a 100% stake in the Government and operates with a fixed liability.
The President exercised his authority under Section 15 of the Companies Act to create this entity, as declared in the official decree.
The primary objective of the company is to amplify the fishing industry’s footprint in the international market, thereby enhancing its social and economic benefits.
Maldives Fisheries and Ocean Resource Marketing and Promotion Limited will focus on promoting and advertising a wide range of Maldivian products globally, including those from aquaculture, mariculture, and other marine sources. To drive revenue growth, the company plans to introduce a distinctive brand for local fisheries, which will be marketed both locally and in various lucrative international markets.
This strategic initiative is poised to not only expand the fishing industry but also elevate the global visibility and desirability of Maldivian seafood and marine products. As the company takes shape, it represents a significant step towards harnessing the full potential of the nation’s rich marine resources on the world stage.