Investment to Modernize Processing and Logistics, Creating 150 New Jobs
In a significant move to bolster the Maldivian fishing industry, the government has announced the development of a state-of-the-art Fisheries Complex in the island of Ihavandhoo. The $30 million (MVR 474 million) project is expected to generate 150 new jobs and transform the efficiency of fish processing and distribution, according to President Dr. Mohamed Muizzu.
Speaking to the residents of Ihavandhoo, President Muizzu stated that the project, set to begin construction in May, will be completed within 18 months. The complex will feature a 1,000-tonne cold storage facility and a 50-tonne brine freezing capacity, ensuring greater efficiency in fish processing and storage. Additionally, a new jetty and harbor with three fish landing points will be constructed to streamline the unloading and logistical operations for the industry.
“This project is an important step in strengthening the fisheries sector, a key contributor to our national economy,” said President Muizzu. “Our administration remains committed to addressing the economic needs of our communities and ensuring that state-led initiatives directly benefit those who depend on the fishing industry.”
In addition to the fisheries development, the President also announced that 200 new housing units will be built in Ihavandhoo under the government’s ongoing efforts to improve living standards and infrastructure in the region. Ahead of the community meeting, President Muizzu participated in the foundation-laying ceremonies for a new Police Station and the new Council Secretariat building, further demonstrating the administration’s commitment to comprehensive development in Ihavandhoo.
The Fisheries Complex is poised to become a game-changer for the Maldivian fishing industry, modernizing processing capabilities, enhancing logistics, and creating valuable employment opportunities for the local community. This strategic investment underscores the government’s dedication to driving economic growth and supporting the livelihoods of those dependent on the country’s marine resources.
About the Maldives
The Maldives is an archipelago of 1,192 coral islands grouped into 26 atolls in the Indian Ocean, located south of India. It is known for its stunning beaches, crystal-clear waters, and rich marine biodiversity. Tourism and fishing are the main pillars of the Maldivian economy, with the fishing industry playing a vital role in the country’s development and the livelihoods of its people.
Contact Information
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