Special Economic Zone ‘Maldives Economic Gateway’ to be developed in Ihavandhippolhu

The Government has decided to develop a Special Economic Zone (SEZ) ‘Maldives Economic Gateway’ in Ihavandhippolhu.

Maldives Economic Gateway is being develop as a SEZ in Ihavandhippolhu with a focus on Maritime Services and Economic Security, including Real Estate, Tourism and other Businesses.

President Dr. Mohamed Muizzu has also decided to appoint Maldives Industrial Development Free Zone Public Limited as the master developer of the Maldives Economic Gateway integrated project in Ihavandhippolhu as per the recommendation of the Cabinet. Moreover, thePresident also decided to give the development rights of the area for the project to Maldives Industrial Development Free Zone Public Limited.

Maldives Industrial Development Free Zone Public Limited was established on January 2, 2024. The company was formed by five state-owned companies – Maldives Airports Company Limited (MACL), Maldives Ports Limited (MPL), State Trading Organization Public Limited (STO). Maldives Transport and Contracting Company Public Limited (MTCC) and Housing Development Corporation (HDC).

The company aims to establish free trade zones in the country. Furthermore, company aims to expand its business activities to ensure economic security and to carry out import, export, re-export and processing activities targeted at the Maldives and in abroad.

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Ibrahim Yaafiu

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