The Ministry of Economic Development and Trade and IFZA have signed an MoU for IFZA to develop and be the governing authority for the special economic and financial services zone at Funadhoo Island and the Maldives Economic Gateway at Ihavandhippolhu Atoll.
Thanking IFZA for choosing to partner with the Maldives on this venture and highlighting that the signing of the MoU is a significant step taken by the Government towards diversifying the Maldivian economic base, HE Mohamed Saeed, Minister of Economic Development and Trade, Government of Maldives noted the government’s serious commitment to creating an enabling environment for businesses, trade, and investment.
Martin Pedersen, Chairman of IFZA, said: “The signing of this MoU marks the start of a journey towards achieving the Government’s goals in the diversification of the Maldivian economy, and this collaboration is expected to provide quality and modern financial services to residents and investors alike and to transform economic activity in the country. And, in keeping with the unique nature of the Maldives, we will do so in a sustainable, inclusive and respectful way, ensuring that we are sensitive to the challenges of the country’s incredible landscape and environment.”
IFZA has a proven track record of attracting thousands of businesses to Dubai and contributing significant foreign direct investment into the UAE.
Through its unique global network of partners and associates, IFZA will be able to use its knowledge, skill, expertise, and global connections to encourage significant inward investment into the Maldives by working with investors, entrepreneurs, business leaders, and high-net-worth individuals to support the Government’s objectives.
The special economic and financial service zones will significantly transform the country’s economy through the development of state-of-the-art office facilities, a conference centre, hotels, and residential real estate. These zones will attract top international talent and help drive innovation, making them a hub for ground-breaking industries.
This incredible opportunity holds immense potential for the Maldives to flourish and prosper through economic diversification, benefiting the government, citizens, and investors.
