President Mohamed Nasheed has said the government’s policy was to lessen the role of the government and expand the role of the private sector in the development of the Maldives.
Delivering his keynote speech at the seminar on “Business Opportunities in the Maldives” the President reiterated his belief that development could best be achieved through individual activity, individual capacity, entrepreneurship and ownership.
The Seminar held today at Bandos Island Resort and Spa was hosted by the Maldives Association of Construction Industry (MACI) and Invest Maldives.
The President said, in the past, this country was run primarily by the government, and government ownership of industries and business activities had been extensive.
“The government has always had a bigger stake than the private sector in almost all economic activities”, said the President.
Speaking on the government’s efforts to transform its economic policies and make the Maldives more business friendly, the President said the government had entered into a number of programmes which promote liberal economic engagements with a bigger role for the private sector.
Continuing on the government’s fiscal discipline, the President said the government had been advocating for “living within our means”.
He said the government was geared towards these goals, and it would be able to achieve these goals in a very near future.
Speaking on the government’s ability to access finances to undertake the proposed development projects, the President said, that the government “have been able to position our economy and our country in the international community in a manner where finance is more receptive for investments in this country”.
He further stressed that the Maldives was now more conducive to business, and new investment opportunities are available for private sector investments in more sectors than the tourism industry.
