The Minister of Tourism and Environment, Thoriq Ibrahim stated that 31 new locations have been leased for tourism purposes since the current administration took office.
The government is working to expand the tourism sector throughout the nation, with President Dr Mohamed Muizzu fostering a favorable investment environment in six atolls which are noted to have fewer resorts.
Speaking at a press conference held at the President’s Office, Minister Thoriq detailed the incentives designated forthese six atolls. These include, lowering lease acquisition rates and up to 15 percent of capital investment duties would be expemted and rent payments may be delayed if the location is operationalised during the grace period.
Furthermore, a system has been established for places to be rented out via an open, public bid, allowing recipients to pay lease acquisition costs over a series of payments. Out of the 16 projects first announced, bids have been submitted for three islands, the Minister said, with lease agreements now signed for two.
“Since this administration came into power, 16 places have now been leased under a closed bidding scheme. Under a cross-subsidy model, 11 places have been leased. Under an open bidding scheme, four places have been leased.” He stated.
The government is also working to develop Halal tourism in the country. Lease acquisition costs for such islands have been reduced by 20 percent. If the island or lagoon is operationalised during the grace period, the land costs for the remainder of this period would be forgiven, the ministry has assured.
The Ministry stated that out of the first six projects developed under the Halal tourism concept, one has now been leased out. In February this year, bid submissions have been reopened for islands and lagoons without bid submissions prior to this, ministry added.
As part of government efforts to create progress in the tourism sector, MoTE stated that seven new resorts will be opened in the Maldives this year, with the bed capacity exceeding 1,000 in each of these locations.