In a significant move aimed at bolstering food security and reducing dependency on imports, the Maldives Industrial Development Free Zone Plc (MIDFZ) has inked a Memorandum of Understanding (MoU) with China Harbor Engineering Company Ltd (CHEC) to develop an Agricultural Economic Zone in Uthuru Thilafalhu (UTF) Island.

The MoU, signed yesterday, marks a pivotal step towards transforming Uthuru Thilafalhu into a thriving agricultural zone.

Shimad Ibrahim, Managing Director of STO, represented MIDFZ, while Mao Bao, Country Manager at CHEC, sealed the deal on behalf of the Chinese firm.

MIDFZ, a collaborative effort involving five prominent government entities including State Trading Organization (STO), Maldives Ports Limited (MPL), Maldives Transport and Contracting Company (MTCC), Maldives Airports Company Limited (MACL), and Housing Development Corporation (HDC), spearheaded the agreement.

The primary objective of this ambitious project is to enhance domestic food production, particularly in fruits, vegetables, and poultry, thereby reducing the Maldives' reliance on imports.

By boosting investment in agriculture, the initiative aims to fortify the nation's food security and stimulate economic growth.

Under the terms of the agreement, the development plan includes land reclamation of Uthuru Thilafalhu, establishment of essential infrastructure, creation of an agricultural industrial park, and construction of passenger and freight terminals, among other structural enhancements.

Additionally, provisions will be made for agricultural training programs to empower locals in cultivating fruits and vegetables effectively.

CHEC estimates that approximately 800,000 people stand to benefit from this transformative project, which is anticipated to slash living expenses for Maldivians by up to 40%.

The collaboration between Maldives and China underscores the commitment of both nations to sustainable development and economic prosperity.

The development of Uthuru Thilafalhu into an agricultural hub is poised to revolutionize the Maldives' agricultural landscape, paving the way for increased self-sufficiency and resilience in the face of global challenges.