The Ministry of Economic Development and Trade has announced plans to establish storage and warehousing facilities in three regions of the country to support small and medium enterprises (SMEs) with affordable logistics solutions.

In a statement issued on Tuesday, the Ministry outlined several initiatives being implemented as part of the Government’s efforts to strengthen the SME sector, following President Dr Mohamed Muizzu’s decision to designate the next two years for targeted SME development measures.

The Ministry said the initiatives follow a meeting held between the President and SME representatives on 17 December, during which members of the business community raised a number of operational challenges. One of the key decisions taken was to establish storage facilities for SMEs in Malé, Kulhudhuffushi, and Addu City, aimed at providing cost-effective storage and warehousing options. Further details on the facilities are expected to be announced in the coming days.

As part of efforts to ease trade and logistics bottlenecks, the Ministry said steps are also being taken to speed up cargo clearance at ports operated by Maldives Ports Limited (MPL) and to strengthen oversight of cargo vessels operating in Maldivian waters.

The Ministry also said it has addressed difficulties faced by businesses in obtaining expatriate quotas by registering enterprises that rent dedicated accommodation for Maldivians and work permit holders, an issue raised by SME representatives during the meeting.

In addition, several measures have already been implemented to reduce costs and delays for importers. The demurrage-free period for imported goods has been extended from 80 hours to 124 hours, while cargo clearance hours have been expanded from 18 to 24 hours. These changes have now been put into effect by the Maldives Customs Service.