Contract to establish free trade and a harbor project signed with a Dubai company

An MUO has been signed between the Maldives and Dubai Ports World (DP World) to establish free trade and develop a harbor.

Minister of Tourism, Ahmed Adheeb and Economic Minister, Mohamed Saeed represented the Maldives on the agreement.

Chairman of DP World Sultan Ahmed bin Sulayem signed the contract on behalf of the company.

After the signing, the Chairman of DP World said the details of the agreement would move forward.

“Even if our thinking now is to develop the port in Male’, we’ll think about developing ports in the North and South atolls of the country.” Sultan Ahmed bin Sulayem said.

He said that the decision to invest in Maldives was made because the country is a popular destination and the Maldives imports a different variety of items for the tourism sector.

Sun Media asked the amount to be invested and the Sultan Ahmed bin Sulayem said that it’s too early to give a figure.

The work towards the final contract would follow this agreement.

The new port and the free trade area under this agreement is to be developed in Thilafushi.

Minister of Tourism Ahmed Adheeb said that from the development of the area for the port to the port facilities and running the operations once it is completed would be handled by DP World.

DP World operates the highest number of ports in the world with 60 ports worldwide.