Webb Fontaine Awarded Contract With the Ministry of Economic Development for the Republic of Maldives

Stocks and Financial Services Press Releases Wednesday January 15, 2020 10:59
MALE, Maldives--15 Jan--PRNewswire/InfoQuest

Webb Fontaine, a leading provider of solutions for trade facilitation powered by artificial intelligence and new generation of IT systems, has been awarded a five-year contract with the Ministry of Economic Development for the Republic of Maldives to install, configure and maintain a turnkey National Single Window (NSW) platform for Trade in the Maldives.

Expected to go live by end of next year, the Maldives National Single Window (MNSW) will streamline international trade procedures by providing an integrated platform for trade, transport and logistics operations. It will enable transparency, faster clearances, cutting cost through reducing delays and improve trade compliances. It will in turn optimize the processing of import and export information with certainty and predictability for the trade community in the Maldives.

The contract between Webb Fontaine and the Ministry of Economic Development for the Republic of Maldives is part of the country's drive towards digitization and is a huge step in the right direction for the trade community of Maldives.

Didier Reymond, CEO at Webb Fontaine said, "The agreement between Webb Fontaine and the Ministry of Economic Development for the Republic of Maldives marks a milestone for both parties. With the implementation of the MNSW, time and cost will be significantly reduced for both government agencies and private sector stakeholders. It will assist in eliminating inefficiencies that currently arise from procedures that are mostly paper-based."

The implementation of MNSW will provide the Maldives with a modern and effective customs administration, streamlined and transparent business procedures and improved merchandise trade within the private sector for small and medium-sized enterprises.

Honorable Fayyaz Ismail, Minister of Economic Development, Republic of Maldives said, "Our partnership with Webb Fontaine is a testament to our commitment as a country to modernize and streamline our current trade procedures. Working together to enhance and optimize our international trade platform will have a huge positive impact on the ease of doing business with the Maldives."

With over 15 offices in a variety of markets all over the world, Webb Fontaine has worked with different government and private entities to provide them with technology solutions to facilitate trade processes. Its innovative solutions and services are brought to life at its Research and Development (R&D) Centers which work across the world to ensure they are utilized correctly and efficiently. Located in Armenia, France and the Philippines, Webb Fontaine R&D centers has invested hugely in this and therefore is equipped with disruptive technology such as AI and machine learning to constantly develop new solutions for its clients.

To learn more about Webb Fontaine and its suite of tech solutions, please visit: www.webbfontaine.com
About Webb Fontaine:

Trusted?by governments globally, Webb Fontaine provides industry wide solutions?to?accelerate?trade development?and modernization. The company uses?unique?technology including Artificial Intelligence to?enable?countries to?emerge as?leaders?in the?future of trade.

Knowledge transfer?is at the core of Webb Fontaine; comprising of a team of experts who work across the world, empowering local communities and?governments.
As an industry leader with the largest R&D centres in the industry, Webb Fontaine is constantly developing international trade practices connecting countries, borders and people.
For more information visit www.webbfontaine.com

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