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People's Progressive party

PPM Vows to Annul Irresponsible Land Lease Deals to Foreign Companies Under Their Administration

Male’, 9th February 2023 - The Progressive Party of the Maldives has issued a statement regarding the government's decision to sell land from Thilafushi to foreign companies. Thilafushi is an industrial island close to the capital of Male'.
The Progressive Congress Coalition has assured the Maldivian people that under its leadership, the current administration's land transactions to foreign parties from Thilafushi will be revised and annulled. The party claims that the allocation of valuable industrial land at below the market price to foreign companies for a 99-year lease will provide them with an undue advantage and have a long-lasting impact on the economic output of the Maldives. The party calls the allocation a "land theft."
The Progressive Party reaffirms its commitment to welcoming and protecting foreign investments in the Maldivian economy, but believes that the rule of law and justice must come first. The party fears that the allocation of land at below-market prices to foreign companies will have a devastating effect on local businesses.
The PPM's pledge to rectify these illegal land transactions comes at a crucial time when the Maldives' economy is facing new challenges. The Maldives experienced rapid growth and a surge of foreign investments during President Abdulla Yameen's tenure, but the party now believes it's time for the government to prioritize the well-being of the Maldivian people and the country's long-term economic stability.