President Dr. Mohamed Muizzu has stated that the Maldives Economic Gateway project would be the most significant economic project to date.

He made the remarks while speaking with the residents of HA. Hoarafushi Island. He said the project would create a lot of employment opportunities and the small and medium enterprises would benefit.

The President emphasised that the Administration had initiated several efforts to develop the economic sector under its "Hafuthaa 14" roadmap. He stated that he aims to simultaneously bring about economic development while reducing and repaying existing debt. He additionally detailed the debt inherited by the Administration from previous governments.

President Dr Muizzu then committed to restarting discontinued projects previously commissioned to develop Hoarafushi Island. He also added that these projects, coupled with the new initiatives, would be aligned to prioritise campaign pledges and allow the initiation of the maximum number of projects within the year.

In that regard, the President highlighted the hospital project, resolving the issues of land erosion, waste management, and land reclamation projects as of high significance for the residential population.

Maldives Industrial Development Free Zone Public Limited has been granted the development rights of the area earmarked for the project. President Dr. Muizzu has decided to declare the area to be a special economic zone.