Minister of Economic Development Fayyaz Ismail has stated Maldivian businesses need to be expanded overseas for the benefit of the national economy.
Speaking at the workshop held by State Electric Company (STELCO), Minister Fayyaz said the future of the national economy not only depends on the tourism industry. The minister said government institutions and private businesses should be formulating plans to expand businesses abroad and find more ways to benefit the economy. He said businesses opportunities can be found in numerous countries, especially in the area of renewable energy. The minister also called on STELCO and other companies to focus on achieving their renewable energy targets to safeguard the environment and reduce energy costs.
Additionally, he expressed hope that the STELCO workshop will result in the reduction of the cost of electrical generators and also provide more jobs and opportunities for citizens. STELCO opened the workshop in order to provide power generation services, power system design and commission, generator assembly, and services under one roof.
Managing Director of STELCO Hassan Mughnee said the purpose of the workshop is to make its services available to all interested individuals. He said the state utility company is also interested in designing and introducing electric vehicles to the country as part of its focus on environment-friendly projects.
Furthermore, STELCO introduced three new electrical generator models at the workshop, which are designed to be modified in accordance with the customer's needs.
STELCO also gave awards to employees who have contributed to the company.