Registrar of Companies at Ministry of Economic Development Mariyam Visam has revealed Maldives received USD 1.2 billion in foreign investments in the past 7 months.
Speaking to PSM News, the registrar of companies said the ministry sanctioned 30 projects funded by foreign investments. Visam said further details of the investments would be disclosed when the fiscal year ends. However, she added most of the investments were targeted to the tourism industry, including resort construction, water sports and wholesale trade.
The administration has pledged to ensure investors are provided a secure environment to launch projects in Maldives. The administration has said necessary changes would be made to the existing frameworks to boost foreign investments in the next five-years.