State Trading Organization, (STO) has revealed plans to invest in the shipping industry by bring shipping vessels to Maldives. This is done so as to explore different financial areas to increase profitability for its business.
Maldives National Shipping Limited was the only Maldivian company who directly worked in shipping, right before they went bankrupt with 2.5 million dollars. In light of this events, STO will be conducting a feasibility study before making any further decisions.
Due to Maldives’ geographical location, the main trade route for most import and export transactions is by sea. Thus, the Maldivian government believes an own shipping company is important to improve countries economy.
- Advertisement -
