30 foreign investors to Maldives in 7 months

30 foreign investors have registered in Maldives over the past seven months, says the Economic Development Ministry.

Speaking at the Nuvagadi session held by Economic Development Ministry this Wednesday to update the press regarding its work, Registrar of Companies, Aishath Wisam said that 26 foreign investors have registered in Maldives so far this year, bringing the total number of new foreign investors to Maldives in the first seven months of the current administration to 30.

Wisam said most of the investors registered for the tourism sector, construction sector, and joint ventures.

State Economic Development Minister, Mohamed Iaad Hameed said that a large volume of foreign investments has been pouring into Maldives, and that it was proof of the existence of an investor-friendly environment in Maldives.

Economic Development Ministry has been running Invest Maldives sessions to find foreign investors for projects in Maldives. Iaad said the office is currently working on finding foreign investors for multiple development projects.

Iaad said the office is currently working on finding parties to run feasibility assessments and work as consultants to develop a commercial port in Gulhifalhu and to develop transshipment harbors at Northern and Southern Maldives, and to find foreign investors for the economic hub project in Addu City.

“We are also about to select two locations in the North to develop as economic hubs,” said Iaad.

He said the office has also decided to develop a harbor for safaris, fishing boats and cargo boats near Male’ City.

“The administration, beginning from the moment it assumed office, has registered a large volume of foreign investments. This shows a boost in confidence in the Maldivian economy. I believe the image of Maldives within the international community has become very positive now,” said Iaad.

He said the switch in perception had been noticeable during the Maldives Partnership Forum held in June.

“We are meeting foreign investors on a daily basis to brief them on available investment opportunities. The outlook is very hopeful.”