The path to national progress is attracting foreign investments: Former President Nasheed

Former President and MDP Chairperson Mohamed Nasheed has stated that the path to progress lies in bringing in foreign investments.

In a post on X, President Nasheed emphasized that foreign investments are crucially important for developing nations.

In his post, he highlighted the significance of Foreign Direct Investment (FDI) for developing countries and cited examples of nations that have achieved success through it.

He noted that the experiences of many countries that gained independence following the colonial era demonstrate that attracting foreign investment is the way forward for development.

However, President Nasheed stressed that instead of using foreign investments merely to extract and export raw materials, they should be utilized to manufacture and process goods locally to boost domestic productivity.

Citing Singapore and South Korea as examples, he stated that bringing in foreign investments did not cause those nations to lose their sovereignty or independence.

On the contrary, President Nasheed noted, those countries developed rapidly and gained control over their own economies.

Furthermore, he added that these nations not only gained the power to protect their sovereignty, but also earned a respected standing within the international community.

President Nasheed made these remarks at a time when many opposition figures are speaking out against the government's decision to hand over a project in Rasmalé to Eagle Hills.

In particular, former President Yameen has been strongly voicing opposition to the project.

However, President Nasheed has repeatedly stated that it is a beneficial project for the Maldives and continues to express his support for it.