The Maldives Industrial Fisheries Company (MIFCO), the state-owned fisheries operator, has seen a notable surge in vessel landings and payments to fishing crews, the company confirmed. That growth is largely being driven by a presidential directive issued by Dr Mohamed Muizzu, under which fishermen are to be compensated within 48 hours of landing their catch. Introduced on Fishermen’s Day in 2024, the policy has quickly gained traction throughout the country.
Government officials believe the country’s fishing sector is undergoing a pronounced revival, fuelled by a state-led initiative mandating expedited payments to fishermen, an intervention analysts say has precipitated a surge in maritime activity and overseas seafood exports.
Recent data from MIFCO show a steep increase in fleet operations. In the latest reporting week, 379 boats offloaded their catches, an uptick of 55.9 percent compared with 243 vessels the week prior. Payments to crews reflected that escalation, rising to USD 1.56 million, more than doubling the USD 733,001.10 disbursed the previous week. The single busiest day was Monday, when 75 vessels yielded a payout of USD 334,378.11.
Government officials have credited the fast-track payment model with restoring trust among fishermen, many of whom had long voiced concern over delayed compensation. By removing financial uncertainty, the policy has encouraged wider participation and expanded economic activity across the sector.
Support for that assessment comes from the Maldives Monetary Authority (MMA), the central bank, whose Monthly Statistics Report cites a clear correlation between reliable payments and increased fishing and export volumes. In the first five months of the year, the Maldives exported 38,800 metric tonnes of fish, a 66 percent rise compared with the 23,356 metric tonnnes shipped during the same period in 2024.
Most of those shipments consisted of chilled and fresh skipjack tuna. Between January and May, exports of this variety reached 35,260 metric tonnes, up 79 percent from the 19,689 metric tonnes recorded in the equivalent period a year earlier.
To solidify these gains, the government of President Muizzu has outlined an ambitious strategy to position fishing as a central pillar of national income. Development efforts now underway are focused on expanding port infrastructure, improving logistics, and resolving longstanding inefficiencies. Officials have pledged to deliver these reforms within the government’s first three years in office.