Maldives Ports Limited (MPL) Chief Executive Officer Mohamed Rishwan has announced that the country’s second free zone will be established in Addu City.

Speaking to state media about the expansion of MPL services in Kulhudhuffushi City, Rishwan highlighted that creating free zones across the Maldives is a key Government initiative aimed at reviving the economy.

A bonded zone has already been designated at Kulhudhuffushi Regional Port, allowing goods to be stored without the imposition of customs duties until they are brought into the country. The free zone in Addu City will follow this model.

The establishment of the Kulhudhuffushi free zone has already led to an expansion of services at the port. In addition to bonded zones, bulk cargo storage facilities have been introduced, and part of the port has been designated for handling domestic cargo vessels.

MPL is also preparing to extend its services from Kulhudhuffushi Port to four northern atolls. A meeting involving around 100 stakeholders, including councils, businesses, and banks, will be held on 30 August to discuss the expansion and explore opportunities for financing. Rishwan noted that financial institutions, particularly the Bank of Maldives, are expected to support businesses through loan facilities of up to MVR 3 million.

He further confirmed that presidential approval has been granted for MPL to expand logistics services nationwide. Under this plan, containers arriving at regional commercial ports will be transported directly to atolls, streamlining distribution and trade.

In addition to the northern free zone, the Government has also announced plans to establish similar zones in the central and southern regions of the Maldives. These zones are intended to encourage re-export activities by facilitating duty-free storage of imported goods, thereby strengthening the country’s position as a regional trading hub.