MTCC Diversifies into Fisheries and Tourism Industries to Boost Revenue

Maldives Transport and Contracting Company (MTCC) unveiled its strategic move into the fisheries and tourism sectors, signaling a significant shift to diversify its revenue streams and strengthen its financial standing.
CEO Abdulla Ziyad outlined the company's ambitious agenda during a press conference, emphasizing the need to reduce reliance on government projects, which currently constitute a substantial portion of MTCC's revenue. Ziyad revealed plans to venture into the fisheries industry, with further details to be announced in due course.
Highlighting the broader vision, Chief Financial Officer (CFO) Hussain Mohamed Manik emphasized the company's focus on expanding the trading sector to raise funds and manage debt effectively. Manik also hinted at potential opportunities in the tourism sector, aligning with MTCC's strategic objectives.
While discussions are ongoing and plans are being formulated, the company aims to transform its trading division into a diversified segment offering a range of products. Additionally, MTCC foresees opportunities in land dredging for tourism development, presenting avenues for revenue generation through land sales to investors.
The move underscores MTCC's commitment to achieving self-sufficiency and financial independence, a departure from its traditional reliance on government projects. With a new management at the helm, the company's foray into fisheries and tourism signifies a strategic shift towards long-term sustainability and growth.