Foreign Investment bill will open international investment avenues: Saeed

The Minister of Economic Development and Trade Mohamed Saeed said on Wednesday the new foreign investment bill open new avenues in competitive global investment.

In a post on X, Saeed said the present Foreign Investment Act was implemented in 1979 and has been 45 years to it. The minister highlighted new “progressive legislation enhances” investment climate, provides investment protection and drives growth.

Minister Saeed also noted that with President Dr. Mohamed Muizzu’s prioritization on the Maldivian investment climate will improve investor confidence significantly.

The bill is now with parliament’s foreign relations committee for review.

During the Maldivian Democratic Party (MDP)-led former administration, a new foreign investment bill was submitted to the 19^th parliamentary assembly which was later recanted on December 28, 2023 after the current administration took over.