Minister of Economic Development and Trade, Mohamed Saeed, has declared the government’s commitment to kickstart the iHavan project during a session in Parliament. The iHavan initiative aims to position the Maldives as a hub for international shipping lines, catering to trillions of dollars’ worth of goods passing through the northernmost Ihavandhippolhu Atoll annually. The project, initially conceived by the previous Progressive Party of the Maldives (PPM) government, stands as one of the largest economic development undertakings.
In response to queries about the project’s revival, Minister Saeed affirmed that the new government has decided to proceed with the iHavan initiative. He outlined that preparations have been made to establish bunkering services in the region, and the government is poised to provide services wherever international shipping lines traverse.
Boston Consulting Group (BCG), a prominent global consultancy firm, conducted an extensive study in Ihavandhoppolhu to assess its suitability for the project. This included consultations with shipbuilding companies, bunkering, and docking service providers. Minister Saeed expressed confidence in the project’s potential to generate substantial revenue for the Maldives.
Acknowledging the groundwork laid by previous administrations, Minister Saeed highlighted that formal efforts on the iHavan project commenced after its branding in 2014. He assured close oversight of the project, which encompasses the establishment of bunkering services and other commercial ventures.
Moreover, Minister Saeed assured the continuation of the Hanimaadhoo International Airport development project initiated during the previous government. This commitment reflects the government’s dedication to fostering economic growth and development in the northern region. As the iHavan project gains momentum, it is poised to play a pivotal role in enhancing the Maldives’ strategic position in global shipping routes and fostering economic resilience.