The Minister of Economic Development and Trade, Mohamed Saeed, has affirmed that the forthcoming tower in the Airport Economic Zone will become a landmark of national pride for Maldivians.

The project, planned for Funadhoo in Kaafu Atoll, will commence following the relocation of the existing fuel storage facilities. Minister Saeed highlighted the tower’s potential to elevate the nation’s image and instill pride among citizens.

This announcement was made during a ceremony inaugurating developmental projects at Velana International Airport (VIA) and the establishment of the Special Economic Zone (SEZ). President Dr Mohamed Muizzu underscored the Government’s dedication to creating an international financial institution in Funadhoo, a key element of the SEZ initiative during the third phase of VIA's expansion.

Minister Saeed disclosed that the financial centre is expected to become operational within the next year. The project is part of the Government’s larger strategy to enhance the Maldives’ financial infrastructure, ensuring more accessible financial services for businesses and fostering economic growth.

These initiatives are complemented by the recent establishment of the Development Bank of Maldives on November 16, which aims to support business development across the nation