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

The agreement was signed on Tuesday during President Dr Mohamed Muizzu’s official visit to China, where he attended the Shanghai Cooperation Organization (SCO) Summit at the invitation of Chinese President Xi Jinping. Minister of Fisheries and Ocean Resources Ahmed Shiyam signed the agreement on behalf of the Maldivian government.

According to the Ministry, Addu City has been identified as a strategic location for the expansion of fisheries in the southern region. The planned hub will include state-of-the-art facilities and maritime logistics services, designed to strengthen the fisheries sector and generate new income opportunities for fishermen.

Under the MoU, both parties will collaborate on a detailed master plan, assess the project’s financial and economic benefits, develop a viable business model, and explore financing options.

The move comes as the Maldives Industrial Fisheries Company (MIFCO) works to expand its operations in the south. The state-owned company announced plans in August to begin direct fish exports from Addu City within a month, alongside efforts to add value to exported fish by the end of the year. MIFCO has also recently started purchasing fish directly from Fuvahmulah City, another southern fishing hub.

The Government views the project as a major step towards diversifying fisheries infrastructure and strengthening the country’s maritime economy.