Maldives Strengthens Food Supply Chain with New Cold Storage Project

The State Trading Organisation (STO) is building a state-of-the-art cold storage facility in the Industrial Village of Malé, aimed at strengthening the Maldives’ food security and supporting broader trade goals.

Minister of Economic Development and Trade, Mohamed Saeed, shared that the project is part of President Dr Mohamed Muizzu’s efforts to diversify the economy and improve food supply systems. He highlighted the Maldives Industrial Development Free Zone (MIDFZ) as a key part of this strategy, helping position the country as a regional trade hub.

The cold storage development, taking place on 2,000 acres of land, is expected to improve the storage and distribution of essential food items. Minister Saeed stated that this project will directly support government-led initiatives to ensure reliable access to food across the country.

MIDFZ is a joint venture between five state-owned companies: STO, Maldives Airports Company Limited (MACL), Maldives Ports Limited (MPL), Maldives Transport and Contracting Company (MTCC), and Housing Development Corporation (HDC). The goal is to enable large-scale imports and re-exports while benefiting from free trade arrangements.

Minister Saeed also pointed to active trade agreements like the China-Maldives Free Trade Agreement, which has allowed the Maldives to import key food items with zero tariffs since January. This has contributed to reducing overall costs of essential goods.
To further regulate prices, the government will introduce an "Essential Commodity Price Index," developed by the National Bureau of Statistics. This index will track monthly price trends for 162 key food and household items and help guide future policy on affordability and availability.