Business Politics

Maldives President Revives Hope in Saudi Multi-Billion Dollar Project

Maldives’ President Abdulla Yameen Abdul Gayoom revives hope in the proposed Saudi led mega project in the archipelago.

It was revealed last year January, that the Saudi government initiated a proposal to implement a ‘mega’ project in Faafu Atoll. The project is worth a staggering amount of USD10 billion. But due to unforeseen setbacks, the project was declined.

However, during a speech given in Faafu Atoll Nilandhoo island, the President assured that the project has been put aside for now but there was hope that the project would still go through.

The multi-billion dollar development project in Faafu Atoll is one of the first steps toward the economic restructuring plan called ‘Vision 2030’ unveiled by the Saudi Government, last year. The kingdom is pushing forward for a transformation from an oil state to a leading economic power in the upcoming years.

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Source URL: Corporate Maldives

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