Talks underway to reduce foreign contractors

Discussions are underway to reduce the number of foreign contractors in the Maldives as well as to reduce the industries that they can take part in, according to the Economic Minister Fayyaz Ismail.

The Minister was speaking at the "Beelanveringe Mahaasinthaa" held at the Islamic Center yesterday and stated that there were a lot of challenges that the construction industry was facing currently and that work was being carried out to resolve these issues.

While foreign contractors were working in the Maldives, there was no efficient way of regulating them according to the Minister who then stated that work to form specific regulations were being carried out. 

In that sense, he stated that there were thoughts to compel foreign contractors to carry out specific projects alongside local contractors in a joint venture. Work to extend the policy to the private sector also underway according to the Minister.

The Minister then stated that discussions were underway with the Maldives Association of Construction Industries to fix issues and challenges that the industry was facing and that ministry would soon meet with newly registered contractors as well.

Minister Fayyaz then stated that the projects were not being carried out at the desired speed of the government because the government was not adequately equipped with the manpower and resources to do so.