New Foreign Investment Act to Ensure Safety for Investors: President

A completely new Foreign Investment Act is currently being drafted to ensure the protection of foreign investors in Maldives.

Addressing the second annual investment forum in Dubai today, the President said his government is fully committed to creating a safe and easy working space for foreign investors in Maldives.

As such, the President said the Special Economic Zone framework has so far been re-implemented and the protection provided by the framework will be available to investments larger than $100 million.

In addition, the President said that a new law on foreign investment is currently underway with provisions to ensure the protection of investors. The Act will also pave the way for the implementation of investment agreements or treaties, he said.

The government also recognizes the importance of government-private partnerships and is therefore working to streamline public procurement procedures in order to strengthen management and increase transparency while creating a business-friendly environment for private enterprises, he said.