MIFCO Dismisses Three Senior Officials in Management Overhaul

Three senior officials of the state-owned Maldives Industrial Fisheries Company (MIFCO) have been dismissed from their positions as general managers.

MIFCO stated that the decision, made yesterday, was part of an ongoing effort to strengthen its management. The move follows a performance review conducted under the reform agenda initiated by President Dr Mohamed Muizzu.

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The company explained that the agenda, launched last year, aims to enhance accountability and improve governance. President Muizzu has previously emphasised his commitment to addressing long-standing corruption within MIFCO. As part of these efforts, he appointed a foreign CEO to lead the company.

In December, Swiss national Dr Vitaly Lubimov was appointed as MIFCO’s new CEO. He is a specialist in strategic crisis management with over 20 years of experience.

MIFCO, a fully state-owned enterprise, was established to enhance profitability in the fisheries sector while ensuring sustainable growth and development.