The government has announced a series of economic initiatives aimed at driving tourism development and expanding opportunities in the northern atolls. President Dr Mohamed Muizzu shared these plans during his visit to Filladhoo in Haa Alifu Atoll, part of a three-day tour across several islands in the region.
Central to the strategy is the introduction of low-interest loans, offered in partnership with Bank of Maldives (BML), at a reduced rate of 3%. The loans are intended to facilitate the development of land allocated by local councils, with a particular focus on boosting tourism infrastructure. Speaking to the residents of Filladhoo, President Muizzu highlighted the island’s untapped potential due to its abundant land and strategic geographical position, describing it as integral to the economic transformation of both Haa Alifu and Haa Dhaalu Atolls.
“Tourism is essential for economic growth. By capitalising on the potential of Hanimaadhoo International Airport, we can unlock new opportunities for the northern atolls,” the President said. He emphasised that the current banking system is ill-suited for rapid development, hence the government’s intervention to provide affordable financing for key projects.
Tourism and Fisheries: A Dual Strategy
The government’s vision includes a dual emphasis on tourism and fisheries, with plans to position Filladhoo as a hub for economic activities in the region. President Muizzu also announced that the lagoons of Kelaa and Vashafaru in Haa Alifu Atoll will be developed to accommodate new resorts. Naagoshi in Haa Dhaalu Atoll, leased to Maldives Transport and Contracting Company (MTCC) in 2006, has also been prioritised for tourism development.
The broader regional plan encompasses the integration of the northern four atolls into a unified development zone, incorporating tourism, fisheries, and supporting infrastructure. To complement this vision, the government has pledged to modernise critical infrastructure, including roads in Filladhoo, which are currently prone to flooding during heavy rains.
Renewable Energy to Cut Costs
Adding to the economic momentum, President Muizzu inaugurated the “Magey Solar” project in Filladhoo, aimed at reducing household electricity expenses through renewable energy. Under the project, solar systems ranging from 3 to 5 kilowatts will be installed in 748 households, with pricing and payment plans designed to be accessible.
Climate Change Minister Thoriq Ibrahim explained that the initiative, a joint effort with Fenaka Corporation and supported by the Asian Development Bank (ADB), would result in significant energy savings. “If the solar system functions as expected, electricity bills could drop to zero for many households,” the minister noted.
Investment to Spur Development
President Muizzu reiterated the administration’s commitment to fulfilling his electoral pledges, with an emphasis on developing infrastructure and services to attract investors. Key among the plans are investments in roads, waste management, and utility services, all of which are expected to pave the way for sustainable economic growth in the northern atolls.
With Hanimaadhoo International Airport as a key gateway, the government aims to establish a self-sustaining economic ecosystem in the region, one that leverages the synergies between tourism, fisheries, and renewable energy.
