An agreement has been signed to establish a bonded zone and a duty‑free zone at the Hithadhoo commercial port in Addu.
The agreement was signed by Maldives Ports Limited (MPL) Managing Director Mohamed Rishwan and Minister of Economic Development and Trade Mohamed Saeed during the ceremony held to mark the 20th anniversary of the Hithadhoo port.
MPL said the agreement will pave the way for the development of a duty‑free zone, a bonded warehouse, and a bulk cargo facility at the port.
According to MPL, the duty‑free zone will allow traders to store goods at significantly lower costs without paying duty on items such as sugar and food products. The bonded warehouse service will also make it easier for tourism operators to safely store goods imported under special permits.
The planned bulk cargo facility will enable the temporary storage of construction materials such as rock and stone, which MPL says will support the growth of the construction sector in the southern region.
In his Presidential Statement last Thursday, the President highlighted that Addu is the second most populous city in the country and will be developed into an IT hub by creating a more business‑friendly environment.