The Maldives government has decided to establish a designated company to promote re-exportation and transshipment, thereby introducing the third major economic sector to the country.
The decision was made following discussions held at the recent cabinet meeting.
Minister of Economic Development and Trade Mohamed Saeed has since affirmed the government’s commitment towards formation of said company, which would be named Maldives Industrial Development Free Zone.
Minister Saeed, via X, outlined the company’s focus would be on safeguarding the economic stability of the Maldives, and promoting a value-added economy, and engaging in transshipment activities, as well as facilitating re-exportation.
The company would be a 100% Maldivian state-owned enterprise, Saeed added.