Foreign investment strengthens economy and protects sovereignty, says Nasheed

Former President and Maldivian Democratic Party (MDP) Chairperson Mohamed Nasheed has defended the proposed investment by UAE-based Eagle Hills in Ras Malé, arguing that foreign investment can strengthen the economy and help protect national sovereignty.

In a post on X on Sunday, Nasheed said countries that had experienced colonial rule were able to achieve economic development by welcoming foreign investment.

He said investments by foreign entities in countries such as South Korea and Singapore had not undermined their independence or sovereignty.

"Instead, their economies became stronger, giving them the capacity to protect their independence and secure their place in the international community," Nasheed said.

His remarks come amid opposition to the proposed Ras Malé development by Eagle Hills, with the MDP among the political parties publicly opposing the project.

Despite his party's position, Nasheed has continued to defend the proposed investment.

He previously expressed support for the Eagle Hills project during a meeting of the MDP's National Council.

Nasheed has also urged MDP members not to oppose Eagle Hills or engage in extensive public criticism of the project.

The proposed development has become a subject of political debate, with opposition parties raising concerns over the allocation of Ras Malé land to a foreign developer.

Nasheed's position differs from that of other figures within the MDP who have opposed the arrangement.

His latest comments emphasise his view that attracting foreign investment and strengthening the economy can reinforce, rather than weaken, a country's ability to maintain its sovereignty.