Business

Maldives construction industry loses 40 mln USD due to COVID-19

MALE, June 6 (Xinhua) — The construction industry in the Maldives has lost 40 million U.S. dollars over the last three months due to the COVID-19 pandemic, local media citing a survey by the Maldives National Association for Construction Industry (MNACI) reported here Saturday.

In a survey of 384 construction companies registered with the MNACI, it was found that the companies suffered a total loss of 40 million U.S. dollars despite a large number of Public Sector Investment Program (PSIP) projects being budgeted for the year.

The Maldives construction industry employs between 5,000 to 7,000 Maldivian nationals and 40,000 to 50,000 expatriate workers, according to statistics cited by the state-owned Public Service Media (PSM).

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Source URL: Bing News :

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