The Maldives government signed a Memorandum of Understanding with Dubai-based International Free Zone Authority (IFZA) during a ceremony in Malé City on Sunday, covering a Special Economic and Financial Services Zone in Funadhoo and an Economic Gateway in Ihavandhippolhu. The agreements are part of a strategy to diversify the Maldivian economy, and the government anticipates formalising the plans within five months.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
The Memorandum of Understanding was signed by Minister for Economic Development Mohamed Saeed and Chairman of IFZA Martin Pedersen during a ceremony in Malé City on Sunday.
Word for word from the report in Maldives Republic. Open the report
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The total land reclamation for the Ihavandhippolhu project is slated to cover 2,500 hectares, supporting industrial, financial, and tourism activities.
Word for word from the report in Maldives Republic. Open the report