Law to be amended to ease foreign investments: Minister Fayyaz

Minister of Economic Development, Fayyaz Ismail speaking at the Maldives Business Roundtable in collaboration with the EU. | Photo: Economic Ministry

Malé, Maldives – Economic Minister Fayyaz Ismail today said that the Foreign Direct Investment (FDI) Act is being amended to provide a more favorable environment and ensure security for investors coming to Maldives.

Speaking at the Business Round Table between Maldives and the EU, he said the government attaches great importance to facilitating private business opportunities in a free environment.

Minister Fayyaz said they would propose important amendments to the FID Bill for the first session of Parliament starting next year.

The bill is being drafted by the Ministry of Economic Development.

There are many opportunities for investors in Maldives and information can be found on the Invest Maldives website.

He said the laws needed to strengthen the economy have been drafted and changes have been made.

Detailing the projects being implemented by the government to expand the economy of Maldives, Minister Fayyaz added that important efforts are being made to diversify the economy.

The minister said the government is making important efforts to create new economic opportunities and make transportation easier. He shared details of the RTL project and the construction of new domestic airports with EU delegates.