Parliament approves UAE investments in Maldives

The Maldivian Parliament has approved an investment agreement of the United Arab Emirates (UAE) in the Maldives.

The investment needed the approval as per Article 115 of the Constitution since the investment carries a responsibility on the part of the people.

UAE investment agreement with the Maldives named Agreement Between the Government of the United Arab Emirates and the Government of the Republic of Maldives on the Promotion and Reciprocal Protection of Investments, is to promote investments in both countries and secure the investments.

The case was sent to the Parliament by the President Abdulla Yameen Abdul Gayoom.

Benefits of the Agreement:

UAE investments in Maldives

Investment opportunities in UAE

Foreign investments in Maldives through UAE

Protection of the investment

The agreement was approved by the Parliament today with the support of 65 MPs. While no MPs voted against it, one voted impartial.

According to the paper filed by the President, if any UAE investment harms the Maldivian environment, action will be taken against those responsible under Maldivian law.

And the Agreement will have no affect on the human rights in the Maldives.