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Laamu Atoll to be developed as the main economic hub

Ministry of Economic Development has revealed plans to develop Laamu Atoll as the main economic hub of Maldives.

Speaking at a press conference held at President's Office, State Minister for Economic Development Mohamed Iyad said the aim of the administration is to bring huge economic changes to different regions of the country. In this regard, he revealed efforts are underway to develop Laamu Atoll as the main economic hub, adding the ministry is now identifying the projects that have to be conducted in the atoll. He added the ministry will compile a plan to transform the atoll as the main economic hub.

Furthermore, the administration has also launched plans to bring revolutionary changes to the economy of Addu City. In this regard, the administration has launched Addu Development Project worth over 407 million US dollars.

The administration is also actively developing transhipment ports in the north and the south of the country. The administration has also planned to develop an international port in Gulhifalhu.

The aim of the administration is to come nearer to the completion of the projects during the current presidential term, according to the economic ministry.