SME and Entrepreneur Federation of Maldives

Four areas to be developed as main economic hubs  

Published on 08/07/2019 8:21am

Four areas to be developed as main economic hubs

Economic Ministry has revealed that four areas across Maldives will be developed as economic hubs.

Speaking at a press conference held at the President's Office on Sunday, State Minister of Economic Minister Mohamed Iaad said Addu City will be developed as a main economic hub as announced during the recent Partnership Forum.The massive project includes economical, social and infrastructural sub-projects and will cost MR 6.3 billion, said Iaad.

Iaad also revealed plans to develop Laamu atoll as an economic hub, and said a large-scale project for the purpose will be announced soon. the government s currently working on selecting two areas that will be developed as economic hubs in the northern Maldives, he added. The details of the projects will emerge only after the necessary research is conducted, Iaad further said.

While four economic hub will be developed across Maldives, the government is also seeking consultants for establishing a transshipment harbour in north and south of Maldives, Iaad said the government aims to conclude all consultancy work during August. He expressed hope that the projects will be implemented and concluded during the current presidential term.

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