Instability within society could hinder economic and urban development: President Yameen

President Abdulla Yameen Abdul Gayoom has stated that despite Government efforts to secure economic and urban development, instability within the society could hinder the nation’s progress. The President made this statement while speaking at the official ceremony to inaugurate Dhan’gethi Harbour Project.

President Yameen further noted that the Government devotes significant financial resources to the development of the country’s various sectors and industries. He therefore encouraged the Maldivian people to prioritise national stability, and treat all Maldivians and visitors with respect.

Noting that the key to a country’s progress and prosperity is a hardworking and productive workforce, President Yameen stated that the Government would continue its developmental efforts for the benefit of the people. In this context, the President emphasized that creating job opportunities for the nation’s youth remains a key priority for his Government.

Continuing in this regard, President Yameen noted that the two major challenges currently being faced by Maldivian youth is the shortage of affordable housing and job opportunities. In order to support the youth to overcome these challenges, the President stated that the Government assigns a high priority to developing a ‘Youth City’ in Hulhumale’. He stressed that not only will this encourage urban development, but it would also provide employment, housing, and recreational opportunities for the nation’s youth.

In his remarks, President Yameen further stated that the development of the atolls was a key motive behind the Government sponsoring the recently passed Special Economic Zone (SEZ) Bill in the People’s Majilis. However, he noted that additional legal frameworks need to be put in place before the Government’s economic policies can be fully realised. Specifically, the President highlighted that the provision of appropriate legal protections to foreign investors is key to encouraging foreign investment in the Maldives.

Accordingly, the President emphasized that the creation of Special Economic Zones would encourage the development of more industries within the Maldives, which would in turn, provide further job opportunities for the Maldivian youth. He therefore appealed to the public to lend their support to the Government in its efforts to foster national development.