Former Minister of Finance Dr Ahmed Shafeeq has been appointed as the Chief Executive Officer (CEO) of the Maldives Industrial Development Free Zone (MIDFZ). His appointment, effective from 27 January, comes in addition to his existing role as Chairman of the Housing Development Finance Corporation (HDFC).
Dr Shafeeq, who was the first Minister of Finance under the current administration, resigned from his ministerial position late last year before taking up his role at HDFC. Speaking to state media, he confirmed his new position at MIDFZ, where he will serve in a dual capacity.
President Dr Mohamed Muizzu established MIDFZ in early 2024 as part of his administration’s economic diversification agenda. The company will focus on large-scale importation and re-export activities while developing free trade zones to enhance profitability and expand international trade.
MIDFZ is a joint initiative involving five state-owned companies: Maldives Airports Company Limited (MACL), Maldives Ports Limited (MPL), State Trading Organisation (STO), Maldives Transport and Contracting Company (MTCC), and Housing Development Corporation (HDC). The company has also been designated as the master developer for the Maldives Economic Gateway Integrated Project in Ihavandhipolhu and the Agricultural Economic Zone Project.
