The Ministry of Economic Development and Trade has announced plans to establish storage facilities in three regions of the country to provide affordable warehousing storage facilities to small and medium enterprises (SMEs).
The Ministry said a series of measures are being taken in line with President Dr Mohamed Muizzu’s decision to introduce special support over the next two years to promote SMEs.
The Ministry noted that during a meeting with SME owners and the President on 17 December, entrepreneurs had voiced several concerns, including the lack of affordable storage space. To address these concerns, the government has decided to establish storage facilities for SMEs in Male’, Addu City and Kulhudhuffushi City, to provide affordable storage and warehousing of goods. Further details will be announced in the coming days.
The Ministry further said it is taking necessary steps to ensure faster clearance of cargo at ports operated by Maldives Ports Limited as well as strengthen management of cargo vessels operating in the area. In addition, issues related to quota allocation have been resolved through registering businesses that rent accommodation for Maldivians and work permit holders.
Measures already implemented include extending the demurrage-free period for imported goods from 80 hours to 124 hours, and increasing cargo clearance service hours from 18 hours to 24 hours.