State to receive only one percent profit from SEZ project: Maaz Saleem

MDP National Congress member Ahmed Saleem (Maaz Saleem) has stated that the state will receive only one percent in profits from the Special Economic Zone (SEZ) project.

Speaking to RaajjeTV near the Anti-Corruption Commission (ACC) premises, Maaz Saleem stated that despite the government’s claims that the Special Economic Zone (SEZ) project would generate revenue and foreign currency for the state, the vast majority of the profits would actually benefit the companies developing the land and infrastructure.

Maaz Saleem stated that while ordinary citizens are required to pay an eight percent tax to the state when purchasing housing, those acquiring property under the Special Economic Zone (SEZ) framework are only mandated to pay a one percent tax.

The government has been adamantly claiming that these project amendments will generate significant revenue and a substantial influx of US dollars. However, the reality is that these profits are being reaped by the developing companies. Foreign investors are purchasing these properties directly from the developers, while the state receives a mere one percent of the proceeds.

Ahmed Saleem (Maaz Saleem)

Maaz Saleem has expressed concern over the government's sudden decision to bring resort development projects—which were nearing the completion of land reclamation under the previous administration—under the Special Economic Zone (SEZ) framework and introduce a new category titled "Sustainable Townships."

Highlighting concerns regarding national sovereignty and independence, Maaz Saleem stated that the current legislation prevents Customs from inspecting goods brought into the country by those operating within Special Economic Zones (SEZs), nor does it allow for the inspection of their commercial warehouses. He further noted that these entities are exempt from the same laws and regulations that Maldivian citizens are required to follow.

Furthermore, Maaz Saleem stated that the existing legislative framework for Special Economic Zones (SEZs) would pave the way for foreign nationals entering the Maldives to operate casinos and engage in gambling activities.

Maaz Saleem stated that while other countries typically grant visas to foreign nationals only after they have resided there for a specific period, the government has now decided that individuals entering the Maldives through Special Economic Zones (SEZs) will be granted visas immediately.

Maaz Saleem stated that Henley & Partners, the firm tasked with managing visa arrangements for individuals entering the Maldives under the Special Economic Zone (SEZ) framework, is an entity that has faced extensive international criticism. He further asserted that the government must disclose to the public the process by which this contract was awarded to the company.

In a letter addressed to the President of the Anti-Corruption Commission (ACC), Al-Ustadh Adam Shamil, on Thursday, Maaz Saleem called for the immediate suspension and investigation of the project.