Minister of Economic Development Fayyaz Ismail has stated foreign investments are vital to the economic progress of the Maldives. He made the remarks while speaking at the Maldives Investment Forum, held as part of the ongoing Expo 2020 in Dubai, UAE.
Speaking at the forum, Economic Minister Fayyaz said the Maldives is a welcoming country for foreign investments, noting the government is working on increasing foreign investments to boost the private sector. The minister noted special measures have been imposed to provide a better environment for foreign investments, highlighting the recent changes brought to the Foreign Direct Investment (FDI) policy and the relevant laws. He added the changes will help to gain the confidence of foreign investors.
During the investment forum, the government announced 18 new islands opened for resort development. Another 3 forums will be held as part of Expo 2020, to present and discuss the investment opportunities available in the Maldives.