The Maldives Economic Gateway Integrated Project will be the most significant economic project to date, says President Dr. Mohamed Muizzu.

The president said this while speaking to residents of Hoarafushi island of Haa Alif atoll.

Noting that his administration has initiated several efforts to develop the economic sector under its "Hafthaa 14" roadmap, the president stated that he aims to bring about economic development while concurrently reducing and repaying the existing debt.

The president also shared details of the debt the administration has inherited from the previous governments.

Muizzu pledged to recommence the halted projects previously commissioned for the progress of the island and added that these projects will be aligned to prioritize campaign pledges, coupled with the new initiatives.

Highlighting that the project would allow the initiation of the maximum number of projects within the year, he said that the hospital project, resolving the issues of land erosion, waste management and land reclamation projects are of high value for the island community.

The government appointed a master developer of the Maldives Economic Gateway Integrated Project in the north of Maldives, during January 2024.

Muizzu designated Maldives Industrial Development Free Zone Public Limited as the master developer for the Maldives Economic Gateway Integrated Project in Ihavandhipolhu.

Maldives Industrial Development Free Zone Public Limited was awarded the development rights for the project area.

The Maldives Economic Gateway Integrated Project revolves around maritime services, economic security, real estate and tourism.