Maldives signs MoU with China to develop fisheries and maritime logistics hub in Addu

The Government of Maldives has signed a Memorandum of Understanding (MoU) with China Machinery Engineering Corporation (CMEC) to establish a fisheries and maritime logistics hub in Addu City.

The agreement was signed during President Dr. Mohamed Muizzu’s ongoing official visit to China, at the invitation of Chinese President Xi Jinping. Fisheries Minister Ahmed Shiyam signed the MoU on behalf of the Maldivian government.

According to the Ministry of Fisheries, the project aims to support national economic development while unlocking new opportunities for the fisheries sector in the southern region. Addu, strategically located and rich in marine resources, has been identified as an ideal site for the expansion of modern fisheries infrastructure and maritime logistics services.

The ministry stated that the initiative is expected to significantly benefit fishermen in the southern atolls by providing enhanced facilities and increasing their income from fishing activities.

As part of the MoU, both sides have agreed to collaborate on preparing a detailed master plan for the project, along with conducting financial and economic feasibility studies, outlining a business model, and exploring financing options.

The government emphasized that the project is part of a broader effort to revitalize the southern economy and create sustainable job opportunities.

In addition to the agreement with CMEC, the Maldives also signed another MoU yesterday with China’s Hongdong Fisheries Corporation. This agreement focuses on developing the country’s mariculture industry as a distinct and growing economic sector.