The Maldives Industrial Fisheries Company (MIFCO) has reported a notable surge in fishing activity over the past week, with more than 370 fishing vessels supplying their catch to the state-owned enterprise. This represents a 55.9 per cent increase compared to the previous week, highlighting a renewed momentum in the fisheries sector.

With the increase in vessel activity, disbursements to fishermen have also risen significantly. According to data released by MIFCO, a total of MVR 24,030,291 was paid out to fishermen during the week, marking a substantial 112.6 per cent rise from the MVR 11,300,377 disbursed the week prior.

The peak of these payments occurred on Monday, when 75 vessels delivered their catch to MIFCO. On that single day, MVR 5,156,362 was distributed to fishermen. 

The Administration has reaffirmed its dedication to strengthening the fisheries sector, most notably through the implementation of a pledge made by President Dr Mohamed Muizzu. As promised, payments for catches are now being released within 48 hours, a measure introduced on the most recent Fishermen’s Day.

According to Government sources, the increase in active fishing vessels is a direct outcome of these regulatory reforms. The new rules are intended to instil confidence among fishing communities, ensure timely payments, and create a more reliable operational environment for stakeholders across the industry.

In parallel with these domestic developments, export data from the Maldives Monetary Authority (MMA) highlights the sector’s expanding international presence. During the first five months of 2025, the Maldives exported a total of 38,800 metric tonnes of fish, of which 35,260 metric tonnes comprised frozen and fresh sea fish. This represents a 66 per cent increase compared to the 23,356 metric tonnes exported during the same period in 2024.