L. Atoll, 2 northern atolls to be developed as economic hubs

The Maldivian administration has announced plans to develop L. Atoll as a main economic hub.

The announcement of additional economic hubs follows the MVR 6.3 billion economic hub project announced for Addu City.

Speaking at a press conference by Economic Ministry at the President’s Office this Sunday, Minister of State for Economic Development, Mohamed Iaad Hameed announced that the administration was currently identifying the projects which need to be run to develop L. Atoll as an economic hub.

“We are identifying projects to develop L. Atoll as an economic hub as well. We are currently preparing for a major project which will be run in L. Atoll,” said Iaad.

He said that additional economic hubs will be developed in two other locations in northern Maldives.

Proposal for the MVR 6.3 billion socio-economic and infrastructure development project in Addu City was presented to foreign investors during the Maldives Partnership Forum held earlier this June.

The proposal includes multiple projects to develop six districts of Addu City; including reclaiming 203 hectors of land for commercial and residential purposes, developing a harbor at Hithadhoo, housing, and sports and social infrastructure.