Maldives proposes joint efforts with Sri Lanka to expand shipping industry

President Dr Mohamed Waheed Hassan Manik has said that the Maldives would welcome Sri Lanka’s assistance in efforts to expand the local shipping industry.

Addressing members of Sri Lanka’s business community, the President said that the Maldives used to own about 100 cargo vessels, but the shipping industry of the country is currently nearly non-existent.

Noting that this is a serious problem for an island nation dependent on imports, the President said that the government’s plan is to revive the shipping industry, and stressed the importance of Sri Lanka’s assistance to Maldives in these efforts.

Referring to investment opportunities in the Maldives, he said that the government’s policy is to develop certain regions of the country and relocate people to those regions, as opposed to people living in small, dispersed islands.

He pointed out that the development efforts in those regions would facilitate opportunities for investors.

The President said that opportunities also exist in the Maldives’ tourism industry, which is environment-friendly and caters to high-class tourists.

He noted that the utilisation of oil for the production of energy results in high costs for the country, and said that the cooperation of the private sector is vital in the government’s efforts to expand the renewable energy sector.

President Dr Waheed assured that the Maldives is a safe place for foreign investors, and said that the government will not tolerate foreign investors being deceived.

He noted nonetheless that the management of the airport of Maldives by a foreign group has resulted in reduction of foreign currency entering the country.

Today’s meeting was attended by prominent business figures of Sri Lanka.

President Dr Waheed also visited the Galle Fort today, a historical tourism site in Sri Lanka.