President Dr Mohamed Waheed assured the business community in Sri Lanka that the government will always protect the rights of investors in the Maldives. The President made this remark this morning, while briefing the business community on the trade and investment opportunities in the Maldives, at a meeting held at the Hilton Colombo.
At the meeting organised by the Sri Lanka-Maldives Bilateral business Council, the President briefed on the relocation of smaller populations to highly populated islands and merging them with central populations, which was currently underway. The President also noted that the smaller islands that are freed up by the process would then be available for various economic and commercial purposes. The President welcomed all interested parties to enable the population movement and development process.
Noting that today the economy of the Maldives is heavily dependent on the tourism sector, the President stated that the Maldives has a history of a very successful shipping industry. Underlining the gradual disappearance of the industry today, the President stressed the vitality of an efficient shipping industry for an island nation like the Maldives.
Speaking in this regard, President Waheed spoke on the measures being taken by the government to revive the shipping industry in the Maldives, and said that it was important to explore possibilities of shipping industry development, reflecting on the successful investment history between the Maldives and Sri Lanka.
Highlighting the fragility of the Maldives’ environment, the President spoke on the steps being taken in tourist resorts to adapt to more eco friendly ways of making tourism more sustainable in the Maldives, namely by changing over to environment friendly methods of waste management, and resorting to alternatives sources of energy.
Noting today’s climbing prices of fuel, the President said that to ensure sustainable development in the Maldives, it has now become an economic necessity to adapt to renewable energy sources, particularly to solar energy. Speaking in this regard, the President underlined the government’s low carbon policy, and encouraged and invited the private sector to participate in the Maldives’ transition to renewable energy.
Speaking on the current economic state of the Maldives, President Waheed briefed the business community on the challenges currently being faced, and the steps being taken by the government in resolving the matters. Further, the President reiterated that the government’s primary duty is to tend to the people’s interests.
At the meeting, Minister of Tourism, Arts and Culture Mr Ahmed Adheeb Abdul Ghafoor and Minister of Economic Development Mr Ahmed Mohamed also briefed the business community on the investment opportunities in the Maldives.
Last evening, President Mahinda Rajapaksa and First Lady Madam Shiranthi Rajapaksa hosted a state banquet at the Presidential Residence, in the honour of President Dr Mohamed Waheed and First Lady Madam Ilham Hussain. The Maldivian delegation and senior officials of the Sri Lankan government attended the banquet.
