The national debt of the Maldives has gone down over the past three years, thus improving foreign nations’ impression of the island nation, proclaimed Minister of Tourism Moosa Zameer late Saturday.
Speaking at a ceremony of ruling Progressive Party of Maldives (PPM)’s campaign for the upcoming Local Council Elections, Minister Zameer declared that with the improving impression of the Maldives to the outside world, there are increasing number of foreign entities looking to invest and finance major projects in the Maldives.
Stating that national progress is proceeding with haste, the minister noted that development projects ranging between MVR 2 million to MVR 200-300 million are ongoing in various islands across the archipelago.
He also announced that President Abdulla Yameen Abdul Gayoom is planning to undertake more development programs over the next year and a half.
The minister in particular highlighted that a significant amount of major projects focus on the development of the tourism ministry. In addition to projects worth total USD 3 billion ongoing in the capital Kaafu atoll such as the reclamation of the Enboodhoo lagoon for resort development, Minister Zameer also noted that another lagoon is being reclaimed near Baa atoll. However, he did not provide details of these reclamation projects.
Meanwhile, it has been announced that three of the resorts being jointly developed by Singha Estate and Singha Corporation of Thailand and Hard Rock Cafes in the reclaimed lagoon of Enboodhoo are to be unveiled next year. Reclaiming lagoons to develop resorts to sell is one of the government’s main formulae for increasing state revenue.
According to the minister, more resorts being developed in Kaafu atoll close to capital Male and the suburbs of Hulhumale and Villimale are beneficial to locals employed at these resorts, allowing them to return home after their shifts daily.
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Source URL: Mihaaru-News