Following an amendment to the Foreign Direct Investment (FDI) policy allowing 100 percent foreign-owned companies to operate and manage airports, Economic Minister Fayyaz Ismail has assured that the government has no plans to allow foreign companies to operate airports in Maldives.
The amendment publicized on Sunday was met with public backlash, accusing the government of working to handover airport operations to foreign companies.
Clarifying things, Fayyaz via Twitter said that the recent amendment “does not allow operation of air traffic by a private investor whether foreign or local”.
Further noting that at any airport in the Maldives this will be run by the State, the minister said that the wordings of the amendment will be changed to “remove any misunderstandings”.
He added that while Hanimaadhoo Airport is to be developed by a loan facility through India’s Exim bank, that “the ownership operation and management of the airport will be carried out by the government or assigned SOE [State-Owned Enterprise]”.
The amendment to the FDI Policy, Annex I, Class Code H3 states that 100 percent foreign owned companies can operate and manage airway terminals and airport terminal facilities, control air traffic activities and handle ground field services.