Saeed: MVR 1.5 billion is guaranteed under the SEZ next year

Economic Minister Mohamed Saeed has said that MVR 1.5 billion in profit for the state is guaranteed under the law of the Special Economic Zone (SEZ) in 2016.

Speaking at the budget committee today, Minister Saeed said that calculation shows a more “hopeful income” than originally estimated for the next year under the SEZ. Minister Saeed said that USD 100 million or MVR 1.5 billion is guaranteed as income next year.

“We are very hopeful, Economic Council, Minister Finance and Economic Zone Board is sure that this time, with God’s will, that income can be brought in to the budget.” Minister Saeed said.

He said that two projects would be worked on under the SEZ including the I-Heaven and Malé Port and Free Zone.

The state budget for 2016 has included MVR four billion as income.