The cabinet has today decided to extend the duration for development of tourist resorts, tourist hotels, training resorts, transit hotels, and city hotels, for an additional 13 months, for parties who had completed 50% of the work on those facilities, and requested an extension.
The decision was made at today’s meeting, following deliberations on a paper presented by the Ministry of Tourism, Arts and Culture.
At today’s cabinet meeting, discussions were also held on a paper presented by the Ministry of Economic Development, on amending Act Number 25/79, Foreign Investment Act.
Members made the decision, for the Ministry of Economic Development to carry out the amendment procedure for the Act currently being implemented in the Maldives. The cabinet also advised the President on constituting an Investment Advisory Board, to develop and strengthen further foreign investment in the country.
Furthermore, the cabinet decided on forming a National Council for Environment, following discussions on a paper presented by the Ministry of Environment and Energy.