President Highlights Progress in Fisheries Revival, Signals Stronger Prospects for Industry

President Dr Mohamed Muizzu has highlighted significant progress in the government's efforts to revitalise the fisheries sector, citing improvements at the Maldives Industrial Fisheries Company (MIFCO), measures to support fishermen, and plans to modernise key industry infrastructure.

Speaking during the latest episode of The Pulse podcast, dedicated to the fisheries industry, the President said ongoing reforms are beginning to deliver positive results and reaffirmed the administration’s commitment to strengthening one of the Maldives’ most important economic sectors.

A key achievement, according to the President, has been efforts to improve efficiency and streamline operations at MIFCO. These measures have helped support the government's goal of maintaining the fish purchasing price at MVR 20 per kilogram, while creating opportunities for further increases in the future.

President Muizzu also expressed optimism about securing continued tariff-free access for Maldivian fish exports to the United Kingdom, describing it as an important step towards enhancing the competitiveness of the country's fisheries products in international markets.

In a further boost for the sector, the President announced that work is underway to address concerns raised by yellowfin tuna fishermen. He said MIFCO’s planned return to the yellowfin tuna market is expected to help secure stronger and more sustainable prices, while ensuring that fishermen remain actively involved in the decision-making process.

The President noted that broader economic reforms, including ongoing restructuring of state-owned enterprises, are expected to generate long-term benefits for the fisheries industry by helping strengthen workforce participation and improving overall economic efficiency.

Expressing satisfaction with the progress achieved so far, President Muizzu also reaffirmed the government's commitment to developing a modern, state-of-the-art fish market in Malé, a project expected to enhance services and opportunities for stakeholders across the industry.

The latest initiatives underscore the government's focus on building a stronger, more competitive and sustainable fisheries sector, while creating greater economic opportunities for fishing communities throughout the Maldives.