Ministry of Economic Development has established a business centre in Villingili, Gaafu Alifu Atoll. The centre was officially launched by Minister of Economic Development Fayyaz Ismail.
Business centres run in islands by Business Centre Corporation (BCC) will counsel and advise small and medium sized entreprises (SMEs) in further boosting businesses. The centres in islands will further assist in seeking loans required by SMEs.
According to Economic Minister Fayyaz, five new business centres will be established across Maldives this year. Currently, there are business centres in Kulhudhuffushi, Naifaru, Kudahuvadhoo, Fonadhoo, Thimadhoo and Hithadhoo.
BCC was established in 2017 under a presidential decree. The purpose of the BCC is to provide support in the development of the SME sector under the supervision of economic ministry.
BCC aims to foster, support, promote and achieve inclusive economic growth through the provision of a full range of business services to support and train local entrepreneurs, community-based organisations engaging in business, and other business development services providers.