The Ministry of Economic Development and Trade and Maldives Ports Limited (MPL) signed an agreement yesterday to establish a bonded zone at the Hithadhoo Commercial Port, enabling the duty-free storage of food items and essential commodities.

At a ceremony held yesterday afternoon at Addu High School, Minister Mohamed Saeed signed the agreement on behalf of the Economic Ministry, while CEO DCP (Retd.) Mohamed Rishwan signed on behalf of MPL.

During the delivery of this year's Presidential Address, President Dr. Mohamed Muizzu announced that the service for storing food and essential goods duty-free would commence at the Hithadhoo Commercial Port within this February.

According to the Ministry of Economic Development, the agreement signed today with MPL includes the establishment of a bonded area at Hithadhoo Commercial Port for duty-free storage of food, essentials, and other varieties of goods. Additionally, the project aims to provide bonded warehouse services targeted at resorts in the southern region and establish a specialized area for the bulk storage of construction materials such as aggregates and river sand.

Speaking at the ceremony, Minister Saeed noted that regional ports in the Maldives can only be utilized to their full potential by providing such essential services.

"While we have international service ports in the North and South, business will not thrive simply by having two satellite ports. Trade will only flourish there by creating the necessary conditions for business activities," Saeed remarked.

MPL CEO Rishwan highlighted that establishing a wider range of services at regional ports would also alleviate the pressure on the Male' Commercial Port.

Rishwan added that while efforts are underway to relocate the Male' Commercial Port to Thilafushi by November 2027, as stated by the President in the Presidential Address, expanding regional port services remains a priority.

"It will be a source of joy and satisfaction for all of us when the cost of cargo coming to the atolls is reduced, thereby providing numerous benefits to the citizens," Rishwan said.

The Ministry of Economic Development stated that these services would facilitate the expansion of Addu City’s leading role in the development of the southern region. Furthermore, the project symbolizes the government’s commitment to sustainable development, food security, and the decentralization of commercial activities across the Maldives.