Former Minister of Finance, Dr Ahmed Shafeeq has been appointed as the Chief Executive Officer (CEO) of Maldives Industrial Development Free Zone (MIDFZ).
Shafeeq who served as the first Minister of Finance of this Administration was appointed as the Chairman of the Housing Development Finance Corporation (HDFC) shortly after his resignation from his ministerial post late last year.
Shafeeq told PSM News that he was appointed to MIDFZ as its CEO in a dual capacity alongside his responsibilities at HDFC on 27 January.
President Dr. Mohamed Muizzu established MIDFZ in early 2024 as a key driver of the economic diversification agenda of his Administration.
The company will engage in large-scale importation and re-export activities, with a focus on developing free trade zones to optimize profits and foster international trade.
MIFDZ is a collaborative venture of five other state-owned companies; Maldives Airports Company Limited (MACL), Maldives Ports Limited (MPL), State Trading Organisation (STO), Maldives Transport and Contracting Company (MTCC) and the Housing Development Corporation (HDC).
MIFDZ has been designated as the master developer for the Maldives Economic Gateway Integrated Project in Ihavandhipolhu along with the Agricultural Economic Zone Project.