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.