The Maldives is seeing record import volumes as the economy continues to grow, Minister of Economic Development, Transport and Trade Mohamed Saeed said at the opening ceremony of the Maldives Maritime Conference, where he highlighted challenges facing the country's trade and economy.
He identified the lack of necessary development and improvements at Malé Commercial Harbour as one of the most significant challenges and said the Government is working to relocate the harbour to Thilafushi.
Minister Saeed said nearly 40 years have passed since the harbour was developed, with successive Governments speaking about the need to expand it. He said the current Government had recognised the need to put this into practice and was working towards that goal.
As part of the harbour project, the Government has formed a consortium comprising three companies. Minister Saeed said the move demonstrated the attention the Government is giving to the project and added that the harbour would have modern facilities once development is complete.
"If Almighty Allah wills, by around November 2028, Maldivian businesses and the Maldives will have a fully functioning modern harbour," Minister Saeed said. "This will provide a solution to the biggest problem that has held back the Maldivian economy for nearly four decades and prevented it from progressing at the pace it should."
Turning to current trade activity, Minister Saeed said the Maldives is now importing goods at levels not previously seen even on a single day. Citing the tourism industry as an example, he said projects worth approximately USD 11 billion are currently under way in the tourism sector alone. He added that the existing harbour faces challenges in unloading goods.
Minister Saeed said there were around 3,000 containers at the time he was speaking. He also described it as encouraging that the previous day marked the highest number of container cargo clearances initiated by Maldives Ports Limited (MPL) in the Maldives.
He added that around 5,000 containers were at Malé Commercial Harbour and going through the clearance process.
"The Maldives is now importing goods at levels we have never imported even in a single day. Imports are increasing," Minister Saeed said. "We can see the work businesses are doing to strengthen the economy and, alongside that, the progress the Maldives is making."
The Maldives Maritime Conference brings together international maritime experts, stakeholders and other parties connected to the sector to discuss its development and exchange views. A large number of participants from the Maldives and overseas take part in the international conference.
New commercial harbour to transform port services: MPL
Beyond expanding the Maldives' capacity to handle growing trade, the relocation of Malé Commercial Harbour to Thilafushi will bring a revolutionary change to port services, with the service system set to develop into one of the most advanced systems, Maldives Ports Limited (MPL) Chief Commercial Officer Hussain Shafeeq said.
Speaking at the opening ceremony of the second Maldives Maritime Conference, CEO Shafeeq highlighted the wider importance of strengthening the maritime sector. He said the sea accounts for 90 per cent of the Maldives, making the industry particularly important to the country, and stressed that the Maldives must take the lead in working collectively to advance the sector alongside providing its everyday services.
CEO Shafeeq identified skilled and experienced employees as one of the most important foundations for developing an industry of this scale. He said MPL therefore places human resource development in the sector among its highest priorities and aims to ensure that every employee receives the appropriate skills and training for their respective field of work.
Against this backdrop, he said the Maldives is witnessing a period of major change in port services and described the relocation of Malé Commercial Harbour to Thilafushi as a historic transformation.
"With this development, we will move towards a modern service system. Cargo-handling capacity will increase, while the service system will also see significant improvements," CEO Shafeeq said. "In particular, alongside the Government's 2.0 system, AI and modern technology will strengthen service management and make services faster."
CEO Shafeeq said this year's conference brings together leading parties active in the sector from countries across the region and international technical experts in the maritime field. He described the conference as an important platform for connecting countries and sharing experiences.
He called on participants to make the best possible use of the opportunity by identifying challenges to further strengthening the sector and holding constructive discussions to find solutions.