Maldives had green lit investments worth US$14 bln in four years: VP Jihad

Vice President Abdullah Jihad says that in the past four years, Maldives had green lit foreign investments worth US$14 billion.

Speaking in the launching ceremony of Maldives Investment Forum in Dubai on Monday, Vice President Jihad highlighted on President Abdullah Yameen’s economic vision was diversified economy for the Maldives. He added that the Government had placed highest priority on expanding corporate sector.

As such, he pointed out that permits were issued for foreign investments worth US$14 billion in the past four years.

Referring to economic growth, Jihad said that at the end of 2016 income per person had reached US$8,933.

VP Jihad added that independent rankings, such as Moody’s B2 ranking was indicative of improving economic status. He further noted that International Monetary Fund (IMF) had commented on the development of Maldivian economy.

Addressing the opening ceremony, Jihad added the economic development under President Abdullah Yameen’s tenure was unprecedented, especially in construction, real estate, transport and financial sectors. Investment Forums of this nature, he said, clarified investors on avenues for investment, in spite of limited options available. He added that this was the best time to invest in the Maldives.

Economic Ministry said that 350 parties had registered for this year’s Forum, including 80 local parties.

Minister of Economic Development Mohamed Saeed had also attended the opening ceremony.

The fourth Investment Forum was initially to be held in Qatar. It was shifted to Dubai following the Government’s decision to sever diplomatic ties with Qatar.

The first Investment Forum was held in 2014 in Singapore, followed by China and India, in the two subsequent years.