Economic Minister Mohamed Saeed has said that bunkering services will be launched in the North before the end of July with one of the world's leading companies.

Speaking to the residents of Haa Alif Hoarafushi as part of the President's ongoing tour of the North, the Minister stated that bunkering services with one of the ten strongest companies in the world will begin within the next few weeks.

“We are expecting the business to start here before the end of July at the latest in a few months,” Saeed said.

Saeed said the launch of bunkering services in the area will facilitate business opportunities for small and medium enterprises. The revenue will increase many times over.

Saeed said the bunkering service will bring an end to what the people of the area have been waiting for for a long time.

The Minister further stated that a company has been registered to manage the free zone under the name of Maldives Industrial Free Zone. The Maldives Economic Gateway project will be dredged this year.

"We are in talks with a European bank to raise funds for that," he said.

Saeed added that the government's aim is to reduce debt and carry out development projects.