Deputy Managing Director of Maldives Ports Limited (MPL), Mohamed Lamaan, has described the launch of the Addu Regional Free Zone as a historic turning point that will reshape the economic future of both Addu City and the Maldives.
Speaking during the official inauguration ceremony held in Addu City, Lamaan said the project represents the beginning of a completely new economic chapter for the country and reflects the broader economic vision of President Mohamed Muizzu.
“Today is a day that will be joyfully etched into the economic landscape of the Maldives,” Lamaan said. “The journey we are beginning today to diversify the economy of Addu City and the Maldives as a whole is an achievement that will be written in golden letters in the history of the Maldives.”
He further described the project as the “economic torch” that would ignite new opportunities in the southern region while opening new pathways for national economic growth and diversification.
According to Lamaan, the free zone initiative draws inspiration from successful economic models implemented in developed nations and neighboring countries, with the aim of transforming Addu into a major economic hub.
The Addu Regional Free Zone was officially inaugurated by Economic Minister Mohamed Saeed and Homeland Security Minister Ali Ihusaan during a ceremony held at Addu High School.
Work on the project began earlier this year through collaboration between MPL, the Ministry of Economic Development, the Maldives Customs Service, and several other government agencies.
Authorities said approximately 1.7 hectares of land has been allocated from the Hithadhoo Port area for the project, while a dedicated 20,000-square-foot area has already been prepared for free zone activities. A duty-free cargo and storage zone has also been designated within Hithadhoo Regional Port.
The free zone is expected to support activities such as bonded warehousing, manufacturing, re-export services, vehicle refurbishment, and duty-free storage operations.
Minister Saeed said the government plans to provide special incentives and concessions between 2027 and 2029 to attract investors and strengthen Addu’s business sector. He added that the city’s future development would be shaped in consultation with local businesses and entrepreneurs.
Businesses interested in operating within the free zone can submit proposals from May 13 until June 11.
