MIFCO to utilize five MSS boats to export fish

An agreement was executed on Monday to commence the export of fish and fish products of the state fisheries company, Maldives Industrial Fisheries Company (MIFCO) for various markets via state shipping company, Maldives State Shipping (MSS)’s boats.

The agreement was signed by MIFCO’s Chief Financial Officer Ilyas Haneef and MSS’ Managing Director Ahmed Shareef.

Speaking at the signing ceremony, Shareef said efforts in this trajectory were initiated at the instruction of President Dr. Mohamed Muizzu and State Trading Organization (STO)’s Managing Director Shimadh Ibrahim.

He further said MSS’ vessels has the capacity to export fish to any market in the work desired by MIFCO, adding the company will undertake efforts to increase the resources necessary to increase the capacity in the future.

Shareef that MSS’ priority in exporting fish and fish products will be the deliverance of the items to the markets desired by MIFCO while maintaining quality.

“MIFCO’s fish exportation process prior to this involved renting and bringing vessels. Renting requires US Dollars. These US Dollars flow out of Maldives. The payment they issue now will go to the state shipping company,” he said.

Ilyas, who also spoke at the ceremony, said the execution of the agreement will pave the way for MIFCO to reform its export system and seek new markets. He also noted that it would decrease the expenses presently incurred to export fish and fish products. 

Five MSS boats will be utilized for the exportation operations. One of the boats has a capacity of 1,110 containers and two boats have a capacity of 600 containers. A boat with a capacity of 80 to 100 containers will be utilized for operations between Male’ and Kooddoo.