President Ibrahim Mohamed Solih announced on Sunday that the ongoing initiatives on Bilehdhoo Island in the Faafu Atoll would provide the residential community with increased opportunities for business investments in the near future. He made these remarks while speaking at the inauguration of the new powerhouse and the administrative building of FENAKA Corporation on the island.
During the ceremony, the President was accompanied by First Lady Fazna Ahmed, Cabinet ministers, parliamentarians, senior government officials, and heads of state-owned enterprises.
Speaking at the function, President Solih emphasised that upon completing essential infrastructure projects such as electricity, water, and sewage systems, the island's residents would experience enhanced investment prospects and income generation opportunities. He added that constructing an airport on neighbouring Magoodhoo Island would further amplify the economic potential of the atoll.
The President urged the local community to explore the establishment of guesthouses as a viable business opportunity and shared details regarding the financial support and loans available through the administration for such ventures. He emphasised that its potential benefits could be maximised by effectively managing additional tasks associated with operating the airport.
President Solih also shared information about the progress made in the island's energy infrastructure and highlighted the contributions of FENAKA Corporation in improving the nationwide system. He noted that the company has successfully constructed 48 powerhouses and 61 administrative buildings throughout the country.
The President announced several upcoming projects for Bilehdhoo Island, including constructing a new harbour, land reclamation initiatives, and installing a self-service ATM for the convenience of the residents.
The President and First Lady toured the facilities after the official inauguration of the powerhouse and FENAKA administration building. The new powerhouse was strategically relocated from its previous position near the school, where it had been for 24 years. The newly constructed powerhouse and administration building, equipped with modern amenities, has been designed to accommodate 30 staff.
Afterwards, the President and First Lady visited Bilehdhoo School, where they inaugurated the newly constructed multi-purpose hall. This marks the completion of the 15th multi-purpose hall by the current administration during its term. The administration is actively engaged in 247 projects aimed at enhancing the education sector's infrastructure nationwide, encompassing the construction of 1,716 classrooms, 92 multi-purpose halls, and 563 other structures.