Ihavandhippolhu Designated Special Economic Zone for Maldives Economic Gateway

In a significant development, Ihavandhippolhu, located in the Eight Degree Sea, is now designated as a Special Economic Zone to catalyze the 'Maldives Economic Gateway.' This move, proposed by the Ministry of Economic Affairs, reflects the government's commitment to harnessing Ihavan's strategic location for comprehensive economic development.
The newly established Maldives Industrial Development Free Zone assumes a pivotal role as the master developer, steering the project towards sustainable growth. Ihavan's position on a major shipping route, facilitating the transportation of approximately 18 trillion tonnes of cargo annually, underscores its potential as a key player in maritime services and economic security.
The Maldives Economic Gateway project encompasses various sectors, including real estate, tourism, and diverse industries. This comprehensive approach aims to unlock Ihavan's economic potential, fostering global connectivity and positioning the Maldives as a thriving economic hub. This strategic designation aligns with the government's vision for a dynamic and resilient economic future.