IFZA and Maldives Ministry Collaborate to Develop Special Economic Zone at ‘Funadhoo Island’

IFZA, Dubai's most dynamic free zone community, and the Ministry of Economic Development and Trade in the Maldives have signed a Memorandum of Understanding to develop a special economic and financial services zone at Funadhoo Island and the Maldives Economic Gateway at “Ihavandhippolhu Atoll.”

The MoU forges a unique partnership as a key stepping-stone towards achieving the Government’s developmental goals in diversification of the Maldivian economy through expansion of commercial and economic activities in the Maldives.

Mohamed Saeed, Minister of Economic Development and Trade noted the commitment of his country’s Government towards creating an enabling environment for businesses, trade, and investment. In this regard, he highlighted that the signing of the MoU is a significant step taken by the Government towards diversification of the Maldivian economic base.

Martin G. Pedersen, Chairman of IFZA commented,

“The signing of this MoU marks the start of a journey towards achieving the goals in diversification of the Maldivian economy and this collaboration is expected to provide quality and modern financial services.”

News Source: Emirates News Agency