Dr Mohamed Shafeeq has been appointed Chief Executive Officer of the Maldives Industrial Development Free Zone (MIDFZ), effective January 27, 2025.

MIDFZ, established on January 2, 2024, is a new state initiative combining major government enterprises including Maldives Airports Company Limited (MACL), Maldives Ports Limited (MPL), State Trading Organisation (STO), Maldives Transport and Contracting Company (MTCC), and Housing Development Corporation (HDC).

The organisation aims to boost national revenue through import and re-export trade with neighbouring countries while strengthening economic security.

Shafeeq served as Finance Minister until his resignation during a cabinet reshuffle by President Dr Mohamed Muizzu on September 30, 2023, when then-Foreign Minister Moosa Zameer took over the portfolio.

Since leaving his ministerial position, he has joined the Board of Directors at the Housing Development Finance Corporation (HDFC), where he previously served as Chief Financial Officer from 2021 to 2023, among other senior roles within the organisation.