Minister of Economic Development, Mohamed Saeed said that the establishment of bonded zone services in Hithadhoo commercial port is a key step in transforming Addu into a commercial hub, as envisioned by President Dr Mohamed Muizzu. An agreement was signed by the Ministry of Economic Development and Maldives Ports Limited (MPL) for the development of these services.
Speaking during the ceremony held in Hithadhoo, Addu city to inaugurate special facilities at Hithadhoo Ports Limited (HPL), Minister Saeed noted that this initiative marks a fulfillment of a pledge of President Dr Muizzu. He said the inception of duty-free storage facilities in Addu port was a point addressed by President Muizzu during his Presidential Address.
The minister noted that the commencement of these services advances the vision of President Dr Mohamed Muizzu to make Addu a commercial hub which has the resources and facilities to produce goods and services.
The minister also remarked that while the Maldives has two ports in the north and south respectively, the development of trade cannot be achieved if they function as satellite ports. For trade to advance, these ports need to be equipped with the facilities and resources as such, he said. The Minister highlighted a wide range of changes that may be required for the effective functioning of these ports stating they may include changes to regulation, changes to law, or the development of more facilities.
Looking at the larger developments ongoing in the economic sector, Minister Saeed noted that the relocation of Male’ port to Thilafushi is a landmark move, which will bring progress to the economy which has not been experienced in the last 40 years.
The president confirmed that Maldives Ports Limited (MPL) will award the contract for the project’s most critical initial component, a 125 metre international quay wall. He added that contracts covering the domestic port’s relocation requirements, including the construction of a two kilometre quay wall, paving works, building construction, and the procurement of essential equipment, are scheduled to be awarded by mid year. Once these works are completed, commercial port operations in the capital will formally transfer to Thilafushi on 11 November 2027.