After failing to secure sufficient land in the southern city, Business Center Corporation (BCC) has once again launched efforts to develop a garment factory in Addu City, said Minister of Economic Development and Trade Mohamed Saeed.
While speaking about the government’s economic policy and agenda on a ‘Sangu TV’ program, Saeed said the plot required for the factory has been assigned now. He added BCC management has begun efforts to launch the development project already.
BCC previously attempted to establish the factory in Addu, but was not able to proceed since it failed to get the land needed for the initiative.
Besides the garment factory initiative, Saeed highlighted other projects under the economic policy which includes a national scale initiative to increase agricultural produce.
Saeed said the initiative is aimed at improving food security of the Maldives.
The economic policy of the new administration prioritizes improving longevity of the economic stability, and enhance sustainable approaches that would help to mitigate potential risks attached to global crises.