The Maldivian Democratic Party (MDP) has called on the Government of Saudi Arabia to disavow any and all involvement in the Faafu project and clarify whether members of the Saudi Royal Family or Saudi businessmen are involved.
The Saudi Arabian embassy in Male’ recently released a statement denying the Government of Saudi Arabia was buying land in Faafu atoll. However, the statement stopped short of ruling out investments in the project from the Saudi Royal Family or Saudi government-linked businessmen.
While news of the project was unofficially circulated, early this year, President Yameen said Saudi Arabian government officials were particularly interested in investing in Faafu Atoll.
On 1 March, President Yameen confirmed that Saudi Arabia and the Saudi Royal Family would invest in a US$10 billion project planned for Faafu atoll. Yameen said the investment would resemble “mixed development projects in French Riviera” and would involve “international sea sports, mixed development, residential high-class development, many tourist resorts, many airports” and other industries.
The MDP is deeply concerned that President Yameen’s proposed ‘mega-investment’ in Faafu atoll could be a front for corruption, embezzlement and international money laundering and calls on the Saudi officials to refrain from engaging with a government that is openly involved in money laundering and corruption.
The project has, from the outset, been shrouded in secrecy and the Government has been persistently vague and evasive on details.
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