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Maldives to Launch Bunkering Services in Haa Alifu Atoll

Maldives to Launch Bunkering Services in Haa Alifu Atoll

According to Economic Development and Trade Minister Mohamed Saeed, the Maldives is set to launch bunkering services in Ihavandhippolhu, Haa Alifu Atoll, by the end of July, marking a significant step towards economic diversification.

“Previous governments discussed diversifying the economy, but we’re making it happen,” said Minister Saeed at a recent event. This initiative and the planned commercial harbour in Laamu Atoll signify a commitment to introducing new industries and creating fresh opportunities.

The bunkering service launch is progressing rapidly. The government has secured two tankers from the State Trading Organisation (STO) and is collaborating with the Maldives National Defence Force (MNDF) to update navigation charts. Environmental safety and preventative measures are also a priority.

“We’re confident preparations will be completed within a month,” stated Minister Saeed, projecting a substantial increase in productivity valued at USD 400 million by next July. This growth is expected to boost the Maldives’ GDP of USD 6.5 billion significantly.

The bunkering service has already generated 40 jobs, and further employment opportunities and benefits for small businesses are anticipated.

The Laamu Atoll Integrated Maritime Hub project, which includes a commercial harbour and bunkering services, is another key initiative for economic diversification. An agreement with a Chinese company has already been signed for its development.

These developments represent a major step forward for the Maldives. The government is committed to ensuring the success and sustainability of these projects, paving the way for a more resilient and diversified economic future for the nation.

MMJ News Desk
Author: MMJ News Desk

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