Malé, Funadhoo to be Connected via Monorail
Minister of Economic Development and Trade Mohamed Saeed unveiled plans for a monorail network connecting Malé to the proposed Special Economic and Financial Services Zone on Funadhoo Island in Kaafu Atoll. The government signed an agreement with Dubai-based International Free Zone Authority (IFZA), which will finance and execute the monorail. Physical infrastructure development on Funadhoo is entrusted to an undisclosed party. The project aims to make Funadhoo a financial hub within five years. The STO fuel farm on Funadhoo will be relocated within 18 months. The government established the Maldives International Financial Services Authority for oversight.
Minister of Economic Development and Trade Mohamed Saeed unveiled plans for a monorail network connecting Malé to the proposed Special Economic and Financial Services Zone on Funadhoo Island in Kaafu Atoll. The government signed an agreement with Dubai-based International Free Zone Authority (IFZA), which will finance and execute the monorail. Physical infrastructure development on Funadhoo is entrusted to an undisclosed party. The project aims to make Funadhoo a financial hub within five years. The STO fuel farm on Funadhoo will be relocated within 18 months. The government established the Maldives International Financial Services Authority for oversight.
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Minister of Economic Development and Trade Mohamed Saeed unveiled plans for a monorail network connecting Malé to the proposed Special Economic and Financial Services Zone on Funadhoo Island in Kaafu Atoll. The government signed an agreement with Dubai-based International Free Zone Authority (IFZA), which will finance and execute the monorail. Physical infrastructure development on Funadhoo is entrusted to an undisclosed party. The project aims to make Funadhoo a financial hub within five years. The STO fuel farm on Funadhoo will be relocated within 18 months. The government established the Maldives International Financial Services Authority for oversight.
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