The Minister of Economic Development and Trade, Mohamed Saeed, has stated that the economic development of Addu City will proceed in accordance with the consultations and aspirations of the city’s entrepreneurs. Speaking at the inauguration ceremony of the Addu Regional Free Zone, the Minister highlighted that the government aims to introduce special incentives and concessions for Addu-based businesses between 2027 and 2029.
Minister Saeed noted that while the free zone concept is a new venture for the Maldives, it is expected to yield significant economic benefits in the near future. He emphasized that the success of this initiative relies on the close collaboration between the government and the business community. Furthermore, the Minister underscored that this project is a key component of His Excellency the President’s policy to establish investment zones across various regions of the country. With the realization of this project, Addu City is envisioned to transform into a prominent IT hub.
