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Pres discusses expanding investment with Yamaki Co. Ltd

Nafaahath Ibrahim
23 October 2019, MVT 12:15
President meets heads of Yamaki Co. Ltd. PHOTO: PRESIDENT'S OFFICE
Nafaahath Ibrahim
23 October 2019, MVT 12:15

President Ibrahim Mohamed Solih on Wednesday met with the President of Yamaki Co. Ltd Yoshihiro Kido and discussed investment avenues in the fisheries sector.

The meeting was held on the sidelines of President Solih's official visit to Japan to attend the enthronement of the new Emperor Naruhito.

In addition to Yoshihiro Director and Senior Executive Corporate Officer of the company Katsuro Kido took part in the meeting.

President Solih and the company officials discussed on ways to further expand Yamaki's investments in Maldives.

Additionally, the President thanked Yoshihiro for their long term commitment in Maldives.

Yamaki Co. Ltd manufactures and sells seasonings, dry seafood, and processed seafood. Yours Maldivian Addu Katsuobushi Pvt Ltd (YMAK) is a subsidiary of Yamaki Co. Ltd. This is notably Japan’s most significant Foreign Direct Investment in Maldives at present.

The factory in Hithadhoo, Addu produces about 200 tonnes of Katsuobushi’—dried, fermented, and smoked skipjack tuna, annually. This amounts to approximately USD 200 million in revenue and adds value to the fisheries sector and contributes to the employment sector.

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