President Ibrahim Mohamed Solih has stated it will take about two years to revive the economy, following the impact of the COVID-19 pandemic.
Delivering the 2021 Presidential Address at the Parliament of the Maldives, President Solih said considering the measures which are underway to tackle the COVID-19 pandemic, the government projects that it will take one to two years to revive the economy. Nevertheless, the President said in order to recover as soon as possible, the government has begun working on diversifying the economy and significantly boosting economic activity.
Speaking on the efforts to revive the tourism sector, President Solih said the government aims to ensure that the benefits of tourism are felt across the country from North to South.
As such, the President noted land on various islands were tendered at the end of last year to develop additional tourist hotels and guest houses, as part of efforts to expand the industry. Moreover, he said with new amendments to the law, resorts will be able to sublease their villas and rooms for longer durations.
In addition, the President said the government estimates that 18 resorts will open this year with a capacity of 5,062 beds, creating 9,000 jobs this year in the tourism industry alone. Noting capacity building is crucial to keep up with the expansion of economic activities, the President revealed training programs targeting a minimum of 1,200 youth have already started. He said this ongoing program will focus on training youth, specialising in the tourism sector and related areas such as construction and ICT.