Parliament passes to increase resort lease period to 99 years

The parliament has passed an amendment to the Tourism Act, to increase the lease period of islands leased for resort development to 99 years.

The bill, submitted on behalf of the government by Hoarafushi MP Mohamed Ismail, was passed with 41 votes in favour.

The voting was conducted by raising hands, following a problem with the voting system - amid protests by MPs of opposition party, Maldivian Democratic Party (MDP).

Once the bill is enforced, , 49 years will be added to the lease period of the islands previously issued for 50 years for resort development, provided that the owner meets certain requirements.

The requirements are that the island should have an operational tourist resort, and that the lease period extension fee of $5 million should have been paid to the government.

The amendment bill also states that permission must be sought in writing from relevant ministries, in the event that the islands, lands, or lagoons are to be used for an activity that might have a permanent impact on the environment.

Furthermore, it states that any party that violates a regulation under Article 15 of the Tourism Act, shall be fined an amount not exceeding $5 million.

Minister of Tourism Ahmed Adeeb said earlier that the country was in need of economic reform, and efforts in this regard are ongoing despite challenges.