Speaking at the official inauguration of Velana International Airport’s (VIA) new passenger terminal, President Dr Mohamed Muizzu described the facility as “the most important pillar” of the Maldivian economy.
He said that its opening marks a transformative moment for the country’s economic future.
The President emphasized that the terminal’s launch timed to coincide with the 60th anniversary of the Maldives’ independence was symbolic of a deeper aspiration: economic sovereignty.
“Economic freedom is the cornerstone of maintaining national independence,” he said.
“This terminal will be a source of pride and a critical step in expanding our economy, particularly the tourism sector.”
President Muizzu credited the expedited completion of the terminal to the efforts of his administration and the support of key international financial institutions.
The project received substantial foreign funding, with the Saudi Fund contributing the largest portion at USD 217 million (MVR 3.3 billion). Additional financing included USD 100 million (MVR 1.5 billion) from the Kuwait Fund, USD 90 million (MVR 1.4 billion) from the Abu Dhabi Fund, and USD 50 million (MVR 771 million) from the OPEC Fund for International Development (OFID). The total cost of the terminal stands at USD 457 million (MVR 7 billion).
Designed to handle up to 7.5 million passengers annually, the terminal features cutting-edge infrastructure and is expected to deliver services 30 percent faster than the former terminal.
