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 is designed to boost national economic growth while unlocking new opportunities for the fisheries sector in the southern region. Addu City—strategically located and abundant in marine resources—has been identified as an ideal site for the development of modern fisheries infrastructure and logistics services.

The ministry said the initiative will directly benefit fishermen in the southern atolls by providing better facilities and increasing earnings from fishing activities.

Under the MoU, both parties have agreed to collaborate on drafting a detailed master plan, conducting financial and economic feasibility studies, and outlining a sustainable business model and financing options.

The government highlighted that the project is part of broader efforts to revitalize the southern economy and create long-term employment opportunities.

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