Maldives sees record 108 foreign investments in 1 year: Minister

The Maldivian government has attracted 108 foreign investments in about one year, a marked improvement from previous years, state-run PSM News reported on Saturday, quoting a senior minister.

Minister of Economic Development and Trade Mohamed Saeed said that between 2013 and 2018, which was previously considered the best period for investments, there were on average 81 foreign investments per year. However, since President Mohamed Muizzu took office, there have been 108 foreign investments in around one year, he said.

He said the current government has hosted business forums in half a dozen countries. These forums have directly contributed to an uptick of investment queries and registered investments in the Maldives, he said.

Saeed said the government puts a lot of effort into creating an investor-friendly environment. The Foreign Investment Act has been revised after 45 years, putting the investment frameworks in line with international norms.

– Agencies