President Dr Mohamed Muizzu declared that the Maldives Industrial Fisheries Company Limited (MIFCO) is now a 100 per cent state-owned enterprise.
He made this announcement in a press conference held at the President’s Office, following yesterday’s Cabinet meeting.
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).