Government Plans Storage Facilities to Support SMEs

The Ministry of Economic Development and Trade has announced plans to establish storage facilities in three regions to provide affordable warehousing options for small and medium enterprises.

The Ministry stated that the initiative forms part of a series of measures being implemented in line with President Dr Mohamed Muizzu’s decision to introduce special support for SMEs over the next two years.

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According to the Ministry, concerns raised by SME owners during a meeting with the President on 17 December included the lack of affordable storage space. In response, the government has decided to establish storage and warehousing facilities in Malé, Addu City and Kulhudhuffushi City to support the storage of goods at lower costs. Further details on the project are expected to be announced in the coming days.

The Ministry also noted that steps are being taken to ensure faster clearance of cargo at ports operated by Maldives Ports Limited and to strengthen the management of cargo vessels operating in the area.

In addition, issues related to quota allocation have been addressed through the registration of businesses that rent accommodation to Maldivians and work permit holders.

Measures already implemented include extending the demurrage-free period for imported goods from 80 hours to 124 hours and increasing cargo clearance service hours from 18 hours to 24 hours.