Malé, Maldives – The Maldivian Government stated that although 100 percent foreign companies are being given the opportunity to take control of airports in Maldives, the task of Air Traffic Control will not be assigned to them.
Amendments were made to the Foreign Direct Investment Policy yesterday, allowing foreign companies to take control over Maldivian airports resulting in public outcry.
While these amendments has attracted the criticism of many, Economic Minister Fayyaz Ismail tweeted saying that as many confusions are arising due to the new amendments, it will be changed and further clarified.
The newly brought amendments to the Foreign Direct Investment Policy allow foreign companies to take 100 percent control over, and run airports in the Maldives for a period of 50 years which took effect from yesterday onwards. These companies are required to invest USD 5 million within a period of 5 years.
This decision from the government has attracted concerns and criticism from many. The critics state that letting foreign companies take over Maldivian companies is a threat to national security.