As part of President Dr Mohamed Muizzu’s pledge to transform Addu City into a business hub, a special forum for business owners is scheduled to be held in Addu City.
This was announced at a press conference held at the President’s Office by the Minister of Economic Development, Transport and Trade, Mohamed Saeed. He stated that the government aims to provide concessions for businesses in Addu City from 2027 to 2029, as part of efforts to advance the business sector. The business forum is being held on 13th and 14th May to meet with stakeholders in the industry and achieve this goal.
The Minister detailed that the key objective of this meeting is to provide information about the opportunities and incentives available for businesses. This forum is open to business stakeholders in tourism, construction and other industries.
“Many relevant Ministries will participate in this meeting. These include the Ministry of Homeland Security, Labour and Technology, Ministry of Fisheries, Agriculture and Ocean Resources, Ministry of Tourism and Civil Aviation, and the Ministry of Finance and Public Enterprises, as well as other related organisations.” The Minister stated.
Furthermore, the government is making preparations to begin the “Free Zone” activities in the in the business harbour in Hithadoo, Addu City. Minister Saeed highlighted that this is a pilot initiative being carried out by Maldives Ports Limited (MPL), with work currently progressing.
In his presidential address this year, President Dr Mohamed Muizzu has stated that incentives will be given to businesses in designated zones to encourage small and medium investments. For instance, Addu City is one such zone to be developed, with government aims to establish other zones for expanding businesses and increasing economic activity.