Maldives Ports Limited (MPL) has unveiled ambitious plans to transform Addu City with the development of a seafood hub and a vehicle export terminal. The announcement, made by MPL’s Chief Executive Officer Mohamed Wajeeh Ibrahim on PSM News, highlights the company's commitment to expanding and modernizing port facilities to boost revenue and economic growth.

Wajeeh outlined that the development will include a significant land reclamation project to create a Free Zone Area around Addu Port. This Free Zone is envisioned to attract both local and international businesses, providing a robust platform for economic development.

A key component of this initiative is the creation of an international seafood hub, designed to enhance the Maldives' seafood export capabilities. The modernized facility will facilitate the processing and shipping of seafood products to global markets, strengthening the country's position in the international seafood industry.

In addition to the seafood hub, MPL plans to establish a vehicle assembly and export terminal at Addu Port. This project aims to enable vehicle assembly within the Maldives, opening up new export opportunities and generating additional revenue for the port and the nation.

Previously, Wajeeh had indicated that the Free Zone Area would be reserved for foreign companies, encouraging them to set up factories and operations within the zone. This strategy is expected to significantly increase foreign investment and inflow of foreign currency into the Maldivian economy.

MPL’s development plans for Addu City align with the broader goal of leveraging the Maldives' geographic advantages to enhance trade and investment opportunities, ultimately contributing to the nation’s economic advancement.