President Dr. Muizzu is young, educated, and experienced as an engineer, Economic Development and Trade Minister Mohamed Saeed said today.
Minister Saeed made the remarks during the signing ceremony of a framework agreement between Singapore's Capital Asia Investment and the State Trading Organization (STO) for the establishment of the port and other related services under the Maldives Economic Gateway and Free Zone Project.
Describing the agreement as historic, Minister Saeed emphasized that it was an important step toward achieving the goals set by President Muizzu. He praised the President’s qualifications, noting that his background as a young, educated engineer would play a key role in the successful execution of this project.
Saeed also referenced the early skepticism surrounding the Maldives' tourism industry. He explained that even when tourism was first introduced to the Maldives fifty years ago, many doubted its potential for success. Today, however, no one questions its success. Therefore, he said, there is no need to be concerned about criticisms faced by President Muizzu’s government.
State Trading Organization Managing Director Shimad Ahmed also spoke at the ceremony, outlining the next steps for the project. He stated that the two sides would establish a permanent agreement within the next six months.
Under the framework agreement, Capital Asia Investment has committed to investing $100 million in Ihavandhippolhu Atoll. The Maldives Economic Gateway project will focus on the development of ports, additional infrastructure, and tourism facilities, aiming to boost the country’s economy.
The Maldives Industrial Development Free Zone (MIDF) has been established with the collaboration of key stakeholders such as STOC, MPL, MACL, Urbanco, and MTCC.
Minister Saeed made the remarks during the signing ceremony of a framework agreement between Singapore's Capital Asia Investment and the State Trading Organization (STO) for the establishment of the port and other related services under the Maldives Economic Gateway and Free Zone Project.
Describing the agreement as historic, Minister Saeed emphasized that it was an important step toward achieving the goals set by President Muizzu. He praised the President’s qualifications, noting that his background as a young, educated engineer would play a key role in the successful execution of this project.
Saeed also referenced the early skepticism surrounding the Maldives' tourism industry. He explained that even when tourism was first introduced to the Maldives fifty years ago, many doubted its potential for success. Today, however, no one questions its success. Therefore, he said, there is no need to be concerned about criticisms faced by President Muizzu’s government.
State Trading Organization Managing Director Shimad Ahmed also spoke at the ceremony, outlining the next steps for the project. He stated that the two sides would establish a permanent agreement within the next six months.
Under the framework agreement, Capital Asia Investment has committed to investing $100 million in Ihavandhippolhu Atoll. The Maldives Economic Gateway project will focus on the development of ports, additional infrastructure, and tourism facilities, aiming to boost the country’s economy.
The Maldives Industrial Development Free Zone (MIDF) has been established with the collaboration of key stakeholders such as STOC, MPL, MACL, Urbanco, and MTCC.
