President announces opportunities for Chinese investors in Maldives

10 Jan 2024 | 08:47
President speaks at the "Invest Maldives" forum-- Photo: President's Office

President Dr. Mohamed Muizzu has highlighted the various opportunities available to Chinese investors to invest in Maldives.

The President announced these opportunities while attending the Invest Maldives Forum in Fuzhou, Fujian Province, China today.

The President noted that the Belt and Road Initiative (BRI) launched by Chinese President Xi Jinping has opened new avenues of digital communication by road, sea and air and revolutionized the movement of goods, capital, technology and people among the participating countries.

The President also noted that the recently inaugurated, new vision of the airport and the commercial port of Maldives are key strategic initiatives of his government and are in line with BRI’s vision of road, sea, air and digital connectivity.

Therefore, the government is ready to seek contractors to implement these projects within the framework of the BRI, he said.

In addition, the government's intention is to strengthen the tourism industry and introduce other industries to diversify the economy, he said, adding that it will do so taking into account the environment and marine resources.

The Rasmale project, which aims to transform the economy of the country, will be the first eco-friendly city in the country and will have the necessary infrastructure and commercial facilities for a population of 325,000, said the president.

The President added that increasing renewable energy generation to meet the energy needs of the country is a key commitment of his, adding that by 2028, the government is targeting to generate 33 per cent of the country’s energy needs from renewable sources.

In addition, the President plans to implement a major project to ensure food security. He also mentioned that he intends to increase the fish processing capacity in Maldives.

The President also mentioned that a company called Maldives Industrial Development Free Zone has been established to ensure the economic viability of the country. The company will play the role of a company that implements and develops strategically important projects and will invest in ensuring a sustainable life for the people, he said.

President Dr.Muizzu also said that the government will work to further develop the tourism industry and bring new experiences to the market. The President mentioned some new initiatives to achieve that goal.

The President said the government is working to establish a higher education school in the field of hospitality and introduce sports, health and cultural tourism. He asked the Chinese  government to intensify its efforts to restore China to its position as the largest tourist destination in  Maldives before the outbreak of COVID-19.

Noting these efforts, the President said his government aims to double Maldives GDP to $12 billion by While stating that he believed in the importance of the role of private enterprises in achieving those goals, the President said that he considered the provision of funds from foreign investors and foreign sources as essential for the execution of these key initiatives.

The President said the government would work with the businesses as partners. He assured the participants that doing business in Maldives would be an easy experience without any difficulties in investing in the country.