President calls for UAE investments in SEZ and financial sector
“Our government will continue to provide a safe, secure and efficient environment in Maldives to conduct your businesses".
By
Shahudha Mohamed
President Mohammed Muizzu on Tuesday called on investors from the United Arab Emirates (UAE) to participate in Maldives' Special Economic Zone (SEZ) and financial industry development projects.
Speaking at the Invest Maldives Forum in Dubai, the President highlighted the major projects and investment opportunities in Maldives.
“Expanding the financial services sector in Maldives is a top priority of my government,” Muizzu said. He added:
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He has established 'Maldives International Financial Services Authority'
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The agency was established to develop a financial industry in Maldives including a development bank and offshore banking services and to formulate good rules and regulations
In his remarks, the President noted the UAE’s experience in creating the Dubai International Financial Center and developing free zones, expressing hope that the two countries would work together.
“Our government will continue to provide a safe, secure and efficient environment in Maldives to conduct your businesses,” he assured.
The President said that the systematic framework for the development of Special Economic Zones in Maldives has been implemented and investors should take advantage of this opportunity.
In the future, investors can be even more confident that laws and regulations will be strengthened to protect their investments in a transparent and safe manner, he said.
In addition, the President noted the opportunity to invest in existing and planned projects in Maldives. Among the projects he highlighted were:
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Introduction of eco-tourism, sports tourism, education tourism and wellness tourism to further expand tourism in Maldives under the visitor economy concept
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Redevelopment of Maldives' main port, expansion of Velana International Airport and maritime development projects in the north of Maldives along the 8 Degree Global Maritime Shipping Route
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More than doubling the cold storage capability for fishermen
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Develop urban centers in different parts of the country in an environmentally friendly manner
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Development of Ras Male
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Establish three more UNESCO biosphere reserves and develop a nature park in each atoll
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Ensure that 33% of the total energy used in Maldives is renewable
