The government of Sri Lanka has plans to facilitate long-term land lease for Maldivian investors, the High Commissioner of Maldives to Sri Lanka, Masood Imad has revealed.
Speaking to PSM News’ ‘Raajje Miadhu’ programme on the recently concluded three-day official visit of the President of Sri Lanka, Anura Kumara Disanayaka to the Maldives, High Commissioner Masood said the historic visit has further strengthened relations between the two countries and opened up more opportunities for Maldivians.
On top of the two bilateral agreements signed between Maldives and Sri Lanka during President Disanayaka’s visit, another 27 MoUs are under deliberations, he said.
President Dissanayake, during the last of the visit had attended Sri Lanka-Maldives Business Forum aimed to invite the Maldivian business community to invest in Sri Lanka by showcasing the country’s high potential in sectors such as investment, trade and tourism.
Though there are only a few Maldivian investments in Sri Lanka at present, Masood revealed that Sri Lanka wants to provide favourable opportunities for Maldivian investors to increase investments.
The Sri Lankan government is ready to facilitate long-term land lease for Maldivian investors, he said, adding that the High Commission will continue to provide assistance to locals wishing to do business in Sri Lanka.
"Some Sri Lankan banks have also expressed interest in lending to Maldivian investors. Great opportunities have been opened up because of the visit. We have also discussed arrangements for Maldivian businessmen interested in operating hospitals in Sri Lanka. Sri Lanka has a really positive perception about the Maldives,” he explained.
President Disanayaka’s visit came around a day after the Prime Minister of India, Narendra Modi concluded his official visit to the island nation.
Reflecting on the visit, Joint Secretary of the Ministry of Foreign Affairs, Dr Ibrahim Zuhuree said the primary focus of Prime Minister Modi’s visit was on economic cooperation.
In addition to discussions on a free trade agreement between Maldives and India, Dr Zuhuree pointed out the USD 565 million Line of Credit (LOC) agreement signed during the visit.
"This line of credit will be used for health, education and housing projects, which are among the government's top priorities. Other agreements have been signed between India and Maldives in key areas,” he explained.
President Dr Mohamed Muizzu has described the visits of the leaders of Maldives’ closest neighbour as a stepping stone towards enhancing strategic partnerships and closer collaboration with India and Sri Lanka.