President says the government will have no stake in the tourism industry other than facilitating business

President Mohamed Nasheed has said the government wanted to make certain that the government had no stake or equity in the tourism industry other than trying to facilitate business in the industry.

Speaking at the inauguration ceremony of ‘Beach House Maldives, The Waldorf Astoria Collection’ at Haa Alif Manafaru, yesterday, President Nasheed reiterated that the government’s business friendly policy to promote private ownership and entrepreneurship.

He said the government would “set out a framework where corporate governance could be best executed.”

President Nasheed said that the Maldives tourism industry has continued to flourish, mostly because the government had left the industry to the market without any government intervention.

The President assured all parties operating in the Maldives tourism industry of continuing the policy, and said “this government will not interfere in their business.”

“And we will only tax them as much as it is completely necessary for the country”, added the President.

In his inaugural speech of the first Asia-Pacific property of the prestigious Waldorf Astoria Collection, the President noted the Maldives tourism industry’s resilience to international political and economic instabilities, and its ability to quickly recover from downturns.

He attributed these distinct characteristics of the Maldives tourism industry to the government’s market oriented approaches, and its independence from the government.

President Nasheed revealed, as part of its “micro and minute intervention” necessary for the tourism industry, the government was working with GMR Group of India to develop an international airport in Haa Dhaal Hanimaadhoo. He said the work of building the airport would begin during this year. He added that this airport would make Beach House and other properties in the area more accessible.

Highlighting the contribution of international tourism chains to the Maldives tourist industry, the President said “they are our development partners”.

He especially noted the contribution of Hilton to the Maldives tourism industry. He said, since Hilton arrived in the Maldives, “They have created an environment where other similar chains have found it appropriate and invest in the Maldives”.

“All these [international hotel chains] together make this industry more affluent, more effective and more productive”, said the President.