First phase of the new garment factory in Addu City,
developed by Business Center Corporation (BCC), has completed with project
mobilization awaiting commencement.
BCC will be opening investment opportunities for interested
parties next week, which BCC said will proceed under joint venture,
contractor-financing, or public private partnership approaches.
The project’s consultant has already paid a visit to Addu
City on Tuesday to address crucial prerequisites before mobilization of the
project begins.
Addu City Council and BCC signed the lease agreement on June
9, 2024, with the former extending a 30,000-square-foot plot for the
corporation to establish the factory that is poised to create multiple
employment opportunities for the southern-most city’s youths.
The garment factory project envisions a significant drop in
the number of apparel imports to the Maldives; and focus reliance on locally
produced products.
“This project is an exceptional opportunity for tailors and
those involved in clothing in Addu City. BCC aims to facilitate easier
marketing for local garment manufacturers by promoting their products, that
they produce at the factory,” BCC Managing Director Ibrahim Ziyaau said.
The factory, led by BCC, is an initiative of the Ministry of
Economic Development and Trade focused on enhancing employment opportunities in
niche areas.
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