The State Trading Organisation (STO) is developing a cold storage facility in Malé’s Industrial Village as part of broader government efforts to strengthen food security in the Maldives. The initiative was highlighted by the Minister of Economic Development and Trade, Mohamed Saeed, during a recent appearance on state media.
The facility is being constructed on 2,000 acres of land and is described as a key component of the government’s food security strategy. It is part of a wider initiative under the Maldives Industrial Development Free Zone (MIDFZ), which aims to expand large-scale import and re-export activities while promoting free trade zones to boost economic diversification.
The MIDFZ is a joint venture involving six state-owned companies, including STO, Maldives Airports Company Limited (MACL), Maldives Ports Limited (MPL), Maldives Transport and Contracting Company (MTCC), and Housing Development Corporation (HDC). The government has positioned the free zone as a mechanism to strengthen trade logistics and improve the resilience of supply chains.
In addition to infrastructure development, the government is introducing an “Essential Commodity Price Index” to track monthly price trends for 162 essential food items. The index, which will be managed by the National Bureau of Statistics, is intended to improve the monitoring and regulation of food prices across the country.
The government has also pointed to bilateral trade agreements such as the China-Maldives Free Trade Agreement as part of its strategy to reduce import costs, particularly for essential goods. Officials have stated that several food items are already being imported under reduced or zero tariffs through these arrangements.
Together, these initiatives form part of a multi-pronged approach to addressing food availability and affordability in the Maldives, while also contributing to long-term economic diversification goals.
