President announces a commercial court will be built in Maldives

President Abdulla Yameen Abdul Gayoom has announced his administration planned to build a commercial court in Maldives to handle monetary and business dispute resolution issues.

He made the announcement during presidential address to People’s Majlis in Dharubaaruge this Monday morning to inaugurate Majlis for 2017.

In his address, President Yameen said it was the target of his administration to provide a healthy and prosperous life to the people of Maldives.

He said it was also a huge priority of his administration to create a convenient and open environment to foreign investors. And that his administration was currently working on creating a dispute resolution mechanism in the country.

“This includes establishing a commercial court in Maldives to handle financial and business issues and establishing an international standard arbitration center,” said President Yameen.

In his address, President Yameen talked about infrastructure development and housing projects being run by his administration.

He announced that construction of additional housing units in a number of islands will begin this year.

President Yameen also promised additional employment opportunities. He said approximately 64,000 jobs were created in the country over the last three years of his administration.

In addition to members of People’s Majlis, Cabinet ministers and heads of independent institutions were in attendance to hear the presidential attendance.