Bunkering Planned for Maldives Economic Zones

by Ship & Bunker News Team
Monday June 9, 2014

The Maldives is considering an economic development plan that includes making bunkering available at new special economic zones, news site Minivan News reports.

Economic Minister Mohamed Saeed said the bill would establish the zones to attract foreign investment.

"So the result of this would be the introduction of different industries to the Maldivian economy in addition to tourism," he said.

The plan would establish the zones in the north, south, and other "strategic locations" within the country, which is located in the Indian Ocean-Arabian Sea area.

Maldives officials have compared the zones to business-friendly locations like Dubai and Singapore, saying that the bill would provide investor protection, enticing private sector players to participate in development.

The government is planning five "mega-projects," according to the High Commission of Maldives, including an integrated project on the Ihavandhippolhu atoll, the most northern part of the country.

That project, called iHavan, includes investments in bunkering services, as well as a cruise hub, transshipment port facility, and other transportation infrastructure.

Among the other mega-projects are the relocation and expansion of the Maldives' main port, exploration for oil and gas resources, the expansion of Ibrahim Nasir International Airport, and the creation of a pre-planned city including an information technology hub.

The bill is expected to pass Parliament without any problems, Saeed said.

Ship & Bunker News Team
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