Minister of Economic Development and Trade Mohamed Saeed has revealed that bunkering services will commence in Ihavandhippolhu, Haa Alifu Atoll, before the end of July. Speaking at a campaign rally held at the main office of the People's National Congress (PNC), Minister Saeed emphasised that while previous governments have discussed diversifying the Maldives' economy, no practical efforts were made to introduce new industries until now. The initiative to start bunkering services in Ihavandhippolhu aims to establish a new industry in the Maldives and is progressing rapidly.
Minister Saeed stated that the government has acquired two tankers from the State Trading Organisation (STO) to launch these services within six months. Updates to navigation charts are being coordinated with the Maldives National Defence Force (MNDF). Additionally, he highlighted ongoing efforts to secure necessary resources, ensure environmental safety, and implement preventive measures against potential issues. He assured that preparations would be completed within a month, projecting an increase in productivity worth USD 400 million by July next year. This increase is expected to significantly boost the country's Gross Domestic Product (GDP), currently at USD 6.5 billion, contributing to economic diversification.
Furthermore, Minister Saeed announced that 40 jobs have been created for the bunkering service so far. He also mentioned that the initiative will enhance small businesses and employment opportunities.
In addition to the bunkering services, the government plans to build a commercial harbor in Gaadhoo, Laamu Atoll, which will include bunkering services and logistics facilities. An agreement has already been signed with a Chinese-based company to develop the Laamu Atoll Integrated Maritime Hub project.