Speaking at a the business forum organised by the Maldivian High Commission in Singapore, in connection with the President’s visit to Singapore, President Mohamed Nasheed has said the Maldives was now open for international business and investments.

“For far too long our country has been hidden from international entrepreneurship” said the President.

But he said, “The country decided with its last election to open up for international business.”

Underscoring the vigorous privatisation policy the government is pursuing, the President expressed his hope of attracting more foreign investments with the privatisation programme.

He reiterated the fact that the Maldives has given good return for investments made in the Maldives, particularly in the tourism sector.

Therefore, he encouraged Singaporean investors and business people to invest in the Maldives assuring them that their investments in the Maldives would be safe and yield handsome profits for them.

The President said, the government aims to increase private entrepreneurship in the Maldives, and spoke on the many investment opportunities for experienced international companies in the Maldives.

He said the Maldives has the legal framework to protect international investors in the Maldives and the government was working to further strengthen the laws and regulations.

The forum was attended by representatives from a number of Singaporean businesses.

The President also today visited Singapore Airport Terminals Services (SATS) and toured its Coolport facility at Singapore’s Changi Airport.

Speaking after the tour of SATS Coolport facility, the President noted the importance of such a facility in the Maldives.

SATS Coolport facility is designed for the handling terminal and transit perishable cargo. It has multi-tiered zones, with different temperatures ranging from -28°C to 18°C, to handle a wide range of commodities such as live seafood, ornamental fish, meats, fresh produce and flowers.

He said since the Maldivian economy was highly dependent on import of perishable cargo for the tourism market and export of fresh fish, such a facility in the Maldives was extremely important. He said this would also be beneficial for the operators as well.

The President said the government would welcome any investor who expresses interest in establishing such a facility in the Maldives.