Ministers lay foundation for SME park
Financed from the government budget, the MVR30 million (US$1.9 million) project for a six-storey building in Hulhumalé was jointly undertaken by the state-owned Housing Development Corporation and Business Center Corporation.
12 Oct 2017, 9:00 AM
The foundation stones of a new industrial park for small and medium-sized enterprises was laid Wednesday by the tourism and economic development ministers.
Financed from the government budget, the MVR30 million (US$1.9 million) project for a six-storey building in Hulhumalé was jointly undertaken by the state-owned Housing Development Corporation and Business Center Corporation.
“This building will have factories and will become a place that brings about big changes to the IT sector,” Economic Development Minister Mohamed Saeed was quoted as saying during the groundbreaking ceremony.
Facilities for developing apps and a factory for soft toys and coconut-based products will be established in the building, he added, promising “revolutionary changes” for local SMEs.
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