Maldives Ports Limited (MPL) has announced ambitious plans to develop a seafood hub and a terminal for exporting vehicles in Addu City. The announcement was made by Mohamed Wajeeh Ibrahim, Chief Executive Officer of MPL, during a programme aired on PSM News.
Wajeeh highlighted the company’s ongoing efforts to generate additional revenue by expanding and enhancing port facilities. As part of these efforts, MPL aims to develop Addu Port by establishing a Free Zone Area in the region, which would provide significant economic opportunities for both local and foreign businesses.
The Free Zone Area is set to include a substantial land reclamation project near the port, where an international seafood hub will be developed. This seafood hub is expected to boost the country’s seafood export capabilities, providing a modernised facility for the processing and shipping of seafood products to international markets.
In addition to the seafood hub, Wajeeh discussed plans to assemble and export vehicles from Addu Port. This initiative would allow for vehicles to be assembled in the Maldives and then exported to other countries, potentially opening up a new revenue stream for the port and the nation.
On a previous occasion, Wajeeh had mentioned that the Free Zone Area in Addu City would be specifically allocated for foreign companies. These companies would be invited to develop factories within the zone, an initiative that is anticipated to play a crucial role in increasing the inflow of foreign currency into the Maldivian economy.
MPL’s plans to develop Addu City as a strategic port hub align with the broader vision of enhancing the country’s economic landscape by leveraging its geographic advantages and creating opportunities for foreign investment and trade.
