Minister of Economic Development and Trade, Mohamed Saeed, has stated that viewing borrowing for the development of an asset that will directly generate income for the Maldivian economy as indebting the country is a very narrow perspective. The Minister said that the airport development project was initiated during President Yameen’s term after all discussions on how to secure funding and repay the debt were held. Minister Mohamed Saeed shed light on the work done by three governments over the past 8 years to develop Velana International Airport, which is universally accepted as the main gateway to the Maldives, during the ‘Raajje Miadu’ program on PSM News.
He noted that former President Abdullah Yameen first started the work because financial institutions and international organizations at the time were emphasizing the need to expand the Maldivian economy. The Minister highlighted that the biggest obstacle to this was the limited capacity of Velana International Airport, the country’s main gateway, and the infrastructural challenges in expanding its services. Therefore, he said that the work was initiated then with a complete plan for repaying the debt, after obtaining necessary consultations from both local and international institutions.
“When President Yameen’s government started the VIA project, the current President was the Minister of Infrastructure, and I was also the Minister of Economic Affairs then. President Yameen started this work because the biggest shock, the biggest shadow cast, and the biggest obstacle facing Maldivian tourism inian tourism in particular was the capacity limitation of the country’s main gateway. It was based on the opinions and consultations of technical experts, and after feasibility studies were conducted, confirming that it was financially viable and that the loan taken for it could be repaid from its revenue, that the work on the place was started,” said Minister Saeed.
The Minister said that it is a narrow-minded view if some people claim that this project, which will take the Maldivian economy to the next level, is a project that has indebted the entire nation. In his speech, the Minister stated that despite having all the funding, contractors, and everything arranged for VIA’s development, the fact that only the terminal work remained unfinished after 5 years shows the lack of sincerity of the previous government in this matter. “I am very surprised that those who gave the airport to GMR, those who increased prices overnight, are now turning around and saying that VIA is a debt contribution. There is no truth in that statement,” the Minister said.
Minister Saeed has noted that billions of rufiyaa in debt were created during the previous term without any arrangement for repayment. He also highlighted that due to the negligence in the project work then, President Dr. Mohamed Muizzu had to do a lot of intense work in a very short period after coming to power.
Minister of Economic Development and Trade, Mohamed Saeed, said that President Dr. Muizzu gave top priority to operationalizing the new airport terminal as soon as possible, despite the difficulties. He also noted that today the airport has become an asset that Maldivians are proud of, and with the new terminal becoming operational, foreign investors have gained additional confidence in the Maldives.”
