MIFCO Officially Designated as a 100% State-Owned Enterprise

President Dr Mohamed Muizzu declared that the Maldives Industrial Fisheries Company Limited (MIFCO) is now a 100 percent state-owned enterprise. 

He made this announcement in a press conference held at the President’s Office, following yesterday’s Cabinet meeting.

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Muizzu stressed the importance of strengthening MIFCO to enhance the overall fisheries sector. Additionally, he revealed the decision to establish a special cooperative for fishermen, and integrate the cooperative as a shareholder in MIFCO.

Previously, MIFCO operated as a subsidiary of the State Trading Organisation Plc (STO).