Maldives Investment Forum begins in Singapore

Maldives Investment Forum, a one-day forum organised by the government to attract foreign investment to the Maldives, has been launched in Singapore.

The forum was inaugurated by President Abdulla Yameen Abdul Gayoom at a ceremony at Marina Bay Sands Hotel in Singapore.

The inauguration ceremony was attended by ministers and senior officials of the government. Over 200 investors from 16 countries will participate in the forum.

Speaking at the ceremony, President Yameen noted that the Maldives was entering a new phase of development, and said that the government has embarked on an ambitious economic agenda to transform the economy, building on decades of sustained and stable economic growth.

“The projects launched today seek to engage private investors in the delivery of key pieces of infrastructure critical to effect national level transformative economic vision. It will indeed play a catalytic role in sustaining our growth, diversifying the economy and creating employment for youth population”, said the President.

President Yameen noted that the legal and regulatory environment governing foreign investment needs strengthening and redefining, and assured that a Special Economic Zone Bill will be tabled in the Parliament soon; and the Foreign Investment Act and Companies Act are being revised to cater the needs of the modern foreign investors.

The President also mentioned some projects launched at the forum today. This includes iHavan, an integrated project to develop the north of the Maldives as an economic zone; the Ibrahim Nasir International Airport (INIA) development project, the Hulhumale’ Youth City project, and the Thilafushi commercial harbour development project.

Speaking at the ceremony Minister of Economic Development Mohamed Saeed said that Maldives will always welcome foreign investment, and assured that the government will support foreign investors.

A website, Invest Maldives, to provide information to investors and attract foreign investment, was also launched by President Yameen at the ceremony today.