The opportunity to invest in more than fifty projects in the Maldives has been opened to foreign investors. This opportunity was opened through the Maldives-Malaysia Business Forum held in Malaysia. The Business Forum is a series of forums held to reveal investment opportunities in the Maldives to foreign parties and foreign investors. Through the Business Forum held in Kuala Lumpur, the capital of Malaysia, investments have been opened for major projects included in President Dr. Mohamed Muizzu’s vision. At this forum, which was attended by a large number of Malaysian investors and businesspeople, opportunities to invest in 52 projects were opened.
Some of the areas of projects opened to investors include urban development projects, healthcare sector, higher education sector, sports sector, airport development, tourism sector, fisheries and marine resources development sector, as well as energy sector, creative economy, banking and finance sector, and ICT sector. In addition, some other sectors are also included among the areas opened to investors.
Some of the projects opened for investment:
1- Rasmale Development Project
2- Gulhifalhu Reclamation and Protection
3- SME and SOE Office Building
4- Development of Dharubaaruge Convention Center
5- Construction of Multilevel Parking Buildings
6- Relocating and developing Male’ Commercial Port to Thilafushi
7- Development of Kudahuvadhoo, Maamigili Port
8- Development of H.A. Uligam Yacht Marina
9- Development of Lhaviyani Maritime Hub
In addition, it includes urban development projects in the health sector, expansion of the mental health sector, and pharmaceutical sector projects. It also includes many projects that are part of the President’s pledges. These include the development of a Tourism Training Facility, development of a National Art School, development of a Medical School with a Teaching Hospital, development of the Faculty of Agriculture and Food Science, development of a Fisheries College, and development of Medical Tourism and Sports Fishing sectors.
Speaking to PSM News about this Business Forum, Minister of Economic Development and Trade Mohamed Saeed said that based on the reception of previous business forums, many projects related to the President’s pledges have been opened to investors this time as well. The Minister said that these projects include those that investors will carry out, projects that can be conducted in partnership with Maldivian businesses, and projects that can be carried out in collaboration with the government.
“The biggest difference this time is that now it will be known what the project is, how much money will be needed for the investment, and how long it will take for the project. After that, the partner or the financing party, or the financial institution or business will know the benefits and the full payback commitment schedule. Also, all the details of how a foreign investment can be registered in the Maldives.” said the Minister of Economic Development.
Previously, business forums have been held during various presidential trips. As such, business forums have been held in major cities of India, as well as in Dubai and China. The government continues to work on holding such forums in some other countries as well.
