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Foreign investment is imperative for economic growth, private ‎sector development and wealth creation - Vice President ‎

08 June 2014; Vice President Dr. Mohamed Jameel Ahmed has said that investment, ‎in particular foreign investment, is imperative for economic growth, private ‎sector development and wealth creation. The Vice President made this remark ‎while speaking at the inauguration of the 2nd China-South Asia Expo, held in ‎China. ‎



The Vice President underlined that while the Maldives currently has ‎the highest per-capita income in South Asia, a number of challenges, ‎shortcomings and deficiencies are present within the Maldivian economy. To ‎reverse the current economic fortunes, Vice President Jameel stated that the ‎current administration has opened its doors to foreign investors, by offering ‎incentives, concessions, cross subsidies, leverages and government ‎guarantees.‎

"Our Government firmly believes that broad-based, private sector-led ‎growth is essential to achieving faster development progress and to transform ‎the economy from where it is today", said the Vice President.‎
Continuing in this regard, Vice President Jameel highlighted key ‎projects on the Government's reform agenda, including iHavan, a broad ‎regional development project in the north of the country, as well as an ‎ambitious oil and gas exploration project, and plans to re-develop ‎Hulhumale' and the Ibrahim Nasir International Airport. ‎

The Vice President further stated that during the four decades, Sino-‎Maldives ties have grown from strength to strength, and re-affirmed that the ‎Government and people of Maldives cherish and attach great importance to ‎the close, historical relations between the two countries. ‎

ENDS.

Ministry of Foreign Affairs, Fathulla Jameel Building, Malé, 20077, Republic of Maldives, | Tel Number: 00960 332-3400  |  Emergency Contact: 00960 798-3400