SIWEC was formed as an effort to generate revenue to improve and boost the welfare mechanism and services of the Maldives national Defence Force (MNDF). Its principle aim is to cater and improve the ever growing needs and extensive functions of the MNDF as a whole and attains self sufficiency in provision of welfare servives to service personal, retirees and their families.
SIWEC was formed on 7th of August 2012. It is a joint venture between the Government (10% of shares) and Sifainge Cooperative (Sifco, 90% of shares)
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