Parliament passes 3 trade, investment bills
In Thursday's sitting, 77 MPs voted in favour of the bills.
Parliament on Thursday passed three trade bills submitted by the government.
The preliminary debate on the three bills, which were moved by the PNC, were finished in a day and moved to the committee review. The three bills are:
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Foreign Investment Bill; moved by Hithadhoo Central MP Ahmed Azan Marzooq
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Business Registration Bill; moved by Fares-Maathoda MP Ashraf Rasheed
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Financial Securities Bill; moved by MP Mohamed Afu Hamid
In Thursday's sitting, 77 MPs voted in favour of the bills.
All three bills were introduced by the then ruling MDP in the 19th parliament. However, all three bills were withdrawn at the request of the then government.
The three bills have been reintroduced by this government without any major changes.
The contents of the 3 bills briefly:
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Foreign Investment Bill: This bill is proposed to define the rules for determining the areas of investment in Maldives, the rules for issuing permits to such persons, the protection and security of such investors, the special circumstances under which such investments may be made
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Business Registration Act Bill: This bill is a proposed Business Registration Act to define the scope of investment in securities in Maldives and other relevant main principles
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Financial Securities Act: This bill is proposed in connection with the proposed amendment to the Business Registration Act to lay down the procedures for foreign investors to invest in the types of securities permitted in Maldives in accordance with the amendment
