Minister of Economic Development and Trade, Mohamed Saeed, has announced that duty will no longer be levied on goods unloaded at Kulhudhuffushi Port, positioning the northern port as a new hub for trade expansion.
The announcement was made at the inauguration ceremony of new services at the port, part of broader efforts to expand its capacity. Speaking at the event, the Minister said the initiative would allow businesses to use their cash flow more efficiently by reducing immediate import costs.
He highlighted that facilities for the safe storage of essential food items, dry goods, frozen goods, restricted goods, general cargo, and bulk cargo have already been established in Kulhudhuffushi. Plans are underway to further expand these services.
“In other parts of the world, such concepts are called free zones or duty-free zones. This is a small version of it that has now started in Maldives. MPL is doing all the work to develop this at a very fast pace,” said the Minister.
He further noted that a separate index has now been introduced for the Maldives’ only essential and critical consumer goods, a move aimed at improving transparency and monitoring in the market.
“And we are doing a lot of work under the direct supervision of the President despite the challenges encountered to reduce the prices of goods,” he added.
The changes mark a significant step in diversifying port services in the north of the country, with Kulhudhuffushi Port now expected to play a larger role in regional trade flows.
