Maldives negotiating major foreign investment deals as part of development drive
Source: Xinhua   2017-03-08 19:12:58

MALE, March 8 (Xinhua) -- The Maldives government said on Wednesday that it was negotiating major investment deals with foreign partners, as part of its wider development plans for the nation.

In a statement released by the Presidential Office, the government said no atolls were being sold to any foreign country and any development of the Faafu Atoll was part of a wider, multifaceted program to finance a major, multi-billion-dollar investment project encompassing mixed development, residential and high class development, and several tourist resorts and airports.

"The Administration categorically rebuts allegations that the atoll has been 'sold off' to a foreign entity. However, the Administration does acknowledge working hard with a range of international investors with the aim of ensuring its economic development agenda which continues to deliver, since 2014, 4-percent growth per year at less than 1-percent inflation," the statement said.

The statement said major investments from 2016 alone will attract upwards of 1.48 billion U.S. dollars in initial investments within the next five years with 2017 projections for economic growth at 4.7 percent and estimated state income at 1.42 billion U.S. dollars.

"Foreign investment is not out of the ordinary in this region, or for that matter anywhere else. The Maldives continues to attract investment across multiple sectors from North America, Europe, Asia and the Middle East," the statement said.

According to government statistics, 64,000 jobs have been created in the Maldives in the last three years with the administration's pledge of 94,000 jobs by the end of this presidential term.

The redevelopment of Velana International Airport - the gateway to the Maldives - is also underway while the Male Port has seen significant upgrades. Enditem

Editor: xuxin
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Maldives negotiating major foreign investment deals as part of development drive

Source: Xinhua 2017-03-08 19:12:58
[Editor: huaxia]

MALE, March 8 (Xinhua) -- The Maldives government said on Wednesday that it was negotiating major investment deals with foreign partners, as part of its wider development plans for the nation.

In a statement released by the Presidential Office, the government said no atolls were being sold to any foreign country and any development of the Faafu Atoll was part of a wider, multifaceted program to finance a major, multi-billion-dollar investment project encompassing mixed development, residential and high class development, and several tourist resorts and airports.

"The Administration categorically rebuts allegations that the atoll has been 'sold off' to a foreign entity. However, the Administration does acknowledge working hard with a range of international investors with the aim of ensuring its economic development agenda which continues to deliver, since 2014, 4-percent growth per year at less than 1-percent inflation," the statement said.

The statement said major investments from 2016 alone will attract upwards of 1.48 billion U.S. dollars in initial investments within the next five years with 2017 projections for economic growth at 4.7 percent and estimated state income at 1.42 billion U.S. dollars.

"Foreign investment is not out of the ordinary in this region, or for that matter anywhere else. The Maldives continues to attract investment across multiple sectors from North America, Europe, Asia and the Middle East," the statement said.

According to government statistics, 64,000 jobs have been created in the Maldives in the last three years with the administration's pledge of 94,000 jobs by the end of this presidential term.

The redevelopment of Velana International Airport - the gateway to the Maldives - is also underway while the Male Port has seen significant upgrades. Enditem

[Editor: huaxia]
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