Construction Had Increased GDP Share from 2014 Onward: Dr. Muizzu

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Housing Minister Dr. Mohamed Muizzu has stated that from 2014 onward construction has increased their share of contribution to Gross Domestic Product of the nation.

Speaking in the ceremony held to open State Trading Organization (STO) Power Mix Plant based in Hulhumale’, the Minister highlighted on the progress of the sector in the country.

This, he said, had expanded to the point where construction sector is the second biggest contributor to the economy. Minister Muizzu added that construction sector was helped further by financial sector introducing financial instruments that are designed for construction sector. The number of housing construction permits filed with the Ministry was a sign of this, he said.

The Minister also noted that the Government had prioritized on developing the sector, especially by supporting small- to medium-sized businesses in construction.
The Minister also commended STO for their role in developing the sector in the country, adding that he hoped to see future expansion.

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