MDP to set up Maldives Exim bank; investment fund
The Exim Bank is aimed at providing necessary financing to local companies for foreign projects.
By
Ahmed Mizyal
Ruling MDP and allied parties on Thursday launched the final part of their manifesto, titled ‘Igthisaadhee Bodu Badhalu’, meaning ‘major economic transforming', which includes the establishment of Maldives' own Export-Import (Exim) Bank and a sovereign investment fund.
The fifth and final part of the manifesto for a second term for President Ibrahim Mohamed Solih was launched at the MDP's 'Zamaanakun Ai Zamaanekey' campaign event held at the Social Centre in Male on Thursday evening.
The final part of the manifesto is divided into four sections:
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Empowered economy
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Participation of all in economic activities
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Finance for the 21st century
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Resilient economy
One of the proposed measures to expand the country's economy and link it with the global economy is the establishment of a local Exim Bank. It is aimed at providing necessary financing to local companies for foreign projects.
The manifesto also calls for the establishment of a sovereign investment fund to invest in State-Owned Enterprises (SOEs) and other strategic assets in Maldives in a sustainable manner. The model aims to increase the profitability of SOEs, strengthen management and attract foreign capital for new investments.
This section then includes:
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Establish the resources and network to enable Maldivian ICT talent and other manufacturers to export, market and promote their products abroad
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Participate in regional and international trade associations, facilitate domestic businesses access to foreign markets and provide financial and technical assistance for businesses to expand abroad
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