Highlighting the Maldives’ positive outlook for economic growth, guaranteed political stability and a liberal investment regime, President Abdulla Yameen Abdul Gayoom has stated that now was the best time to invest in the Maldives. The President made this remark while speaking at the inauguration of the joint stakeholder briefing session for Saudi business delegation, Invest in Maldives.
President Yameen underscored the commitment of this Government to diversify the economy, while simultaneously developing the tourism product, which fuels Maldives’ economic growth. Highlighting the different avenues for economic expansion in Maldives, the President welcomed investments in tourism sector projects, transport sector, renewable energy, real estate development, and social housing. He also noted the Maldives’ eagerness to develop the financial sector.
In his speech, the President noted that long term investors who have invested in the Maldives would attest that Maldives was one of the safest destinations for investing in South Asia, with guaranteed lucrative investment returns. He welcomed closer and broader engagements between the Maldivian and the Saudi business communities, which would be mutually beneficial to the two communities. He also assured that the Maldives will always have its doors open for Muslim brothers, in pursuing mutually beneficial endeavours.
Underlining the high priority given by his administration to deliver the economic reform electoral pledges, President Yameen noted that investor confidence and interest in Maldives, as an attractive investment destination in South Asia, has been restored. On this note, he also highlighted the efforts being made by the Government in modernizing the legal framework governing investments.
Speaking in this regard, the President said that the enactment of the Special Economic Zones Act enables the Government to engage with investors to deliver strategic investment projects. He noted that the law also provides for attractive incentives packages, and ensures investment guarantees and protection that are in-line with international best practices.
