MDP investment forum to seek funding for 75 council projects worth $306m
A chart included in the forum information paper shows that the 75 projects have been proposed by councils from 32 islands across 14 atolls.
The Maldivian Democratic Party (MDP) will seek investors for 75 projects proposed by island councils at an investment forum being held as part of the party’s congress, which begins on Thursday night.
According to information released by MDP President Mohamed Nasheed on Thursday, the projects will be presented at the “Rahvehi Tharaggee” investment forum.
A chart included in the forum information paper shows that the 75 projects have been proposed by councils from 32 islands across 14 atolls. The projects cover 14 sectors and have a combined estimated value of USD 306 million.
The largest projects by value are being proposed by the Gaafu Dhaalu Thinadhoo Council, followed by projects from Fuvahmulah and Addu.
Among the projects to be presented to investors are the development of Kaadedhdhoo Airport with a seaplane hub in the south, the development of an international port in Thinadhoo, and the development of Kaafenaa for integrated tourism.
Other proposals include establishing a fish canning factory in Thinadhoo, a solar home battery project in Fuvahmulah, and the development of a city hotel with a convention centre in Addu.
The largest number of projects are in transport, fisheries and aquaculture. These are followed by projects in the energy, tourism and housing sectors.
The investment forum forms part of the MDP congress scheduled from 1 to 3 October. The party has said the forum is intended to connect local councils with potential investors and create investment opportunities based on development proposals identified by councils.
