The government has announced it has opened 18 islands in the Maldives for resort development. The announcement was made at the Maldives Investment Forum held at Expo 2020 in Dubai.
The government stated it will keep the bidding process open until February next year and will allow companies with 100% foreign ownership to bid for the islands. The islands opened for resort development include islands in Haa Alifu Atoll, Haa Dhaalu Atoll, Shaviyani Atoll, Noonu Atoll, Raa Atoll, and Meemu Atoll, Faafu Atoll, Thaa Atoll, Laamu Atoll, Gaafu Alifu Atoll, and Gaafu Dhaalu Atoll.
Furthermore, the government will provide leeway for the contracted companies, including lowering the duty on imported resources for development and allowing the companies to reclaim land around the islands.
Speaking at the Maldives Investment Forum, President Ibrahim Mohamed Solih called on foreign investors to take advantage of the opportunities for resort development in the Maldives. He also said the government is working to provide more opportunities for local investors as well.
Also speaking at the forum, Minister of Tourism Dr. Abdulla Mausoom said the Maldives is an exceptional country for investment, as revealed by resort operators opening multiple establishments in the country with their brands.