The government has decided to establish a special company to promote the re-exports sector in the Maldives.
This decision was made following discussions held during a cabinet ministers meeting . Minister of Economic Development and Trade Mohamed Saeed affirmed the government's commitment to forming a specialised company called the Maldives Industrial Development Free Zone.
In a post on X, Minister Saeed outlined that the company's focus would be on safeguarding the economic stability of the Maldives, adding value, engaging in transshipment activities, and facilitating re-export businesses. He also emphasised that the company is envisioned to be a 100% Maldivian-owned entity.
As the Maldives experiences economic growth, various sectors, including tourism, fisheries, and others, are undergoing development. It aligns with the administration's key policy objectives under the leadership of President Dr. Mohamed Muizzu. Notably, the government seeks to boost national productivity, promote job creation, income generation, and enhance investment prospects.