Minister of Economic Development and Trade Mohamed Saeed has announced the establishment of an agricultural economic zone in Uthuru Thilafalhu (UTF) aimed at cultivating 70% of approximately 15 varieties of vegetables and fruits commonly used in the Maldives.
Speaking at a meeting at the main office of the People's National Congress (PNC), Minister Saeed highlighted the nearing completion of the feasibility study for the UTF agricultural zone. The project aims to market 70% of the country's chicken eggs and chickens, along with various vegetables and fruits.
Significant international work is being conducted on the project, including studies on soil quality and sunshine in the Maldives, carried out in international laboratories. Minister Saeed emphasized the project's potential to generate around 800 job opportunities in the Maldives. Local production of agricultural products is expected to reduce reliance on imports and lower food prices, leading to a 10-20% decrease in food costs and a significant reduction in imports, easing the burden on foreign exchange.
President Dr. Mohamed Muizzu has prioritised food security challenges in the Maldives. In line with this, the Maldives Industrial Development Free Zone (MIDFZ) signed an agreement with China Harbor Engineering Company Limited (CHEC) in March this year. The agreement aims to establish an agricultural economic zone in UTF, including dredging UTF, developing primary infrastructure, creating an agricultural industrial park, and establishing passenger and freight terminals along with other related infrastructure facilities.