The minister said the project, which will solve the congestion in the small port and completely change the logistics and trade system of the country, is the top priority of the state budget and the national development plan.
Atoll Times
The Minister of Finance and Government Enterprises, Hassan Zareer, today said that the development of the Thilafushi International Trade Port (Thilafushi Port) is the top priority in the government’s optimistic journey to take the economic structure of the country to a whole new level. The minister said this while presenting the 2027 budget to the Parliament.
The minister said the project, which will solve the congestion in the small port and completely change the logistics and trade system of the country, is the top priority of the state budget and the national development plan.
The project is set to be one of the biggest infrastructure investment projects in the history of maritime transport and trade in the Maldives. Instead of the current 5 hectares of land and 101 meters of keywall, Theilafushi is developing an international standard port with a 1.4 km keywall on an area of 60 hectares. This will increase the container handling space to 390,000
The project is the government’s top priority, and the port is scheduled to be completed and operationalised by 11 November. With the opening of the port, the current 9- and 14-day waits for unloading goods will be reduced to less than three days. This will bring down food and commodity prices, provide a permanent solution to road congestion and strengthen the supply chain across the country.
A significant portion of the MVR 8.2 billion allocated for the Public Sector Investment Program (PSIP) in the 2027 budget has been allocated for this project and the Thilamale' Bridge connecting the port. The connection between the Thilafushi Port and the Thilamale' Bridge will complete the logistics hub of the entire Greater Male' region, opening up new opportunities for private businesses and foreign investors, increasing revenue for the state.
The Thilafushi International Port is not only a place to unload goods, but it is also the most important economic foundation to sustain the economy, fiscal and economic independence.
