Finance minister Ibrahim Ameer reveals that investors who attended the Maldives Partnership Forum were onboard with the 70 projects proposed relating to the country’s governance.
Speaking to the press upon the conclusion of the forum, Minister Ameer stated that the main aim of such a forum is to secure the support needed to fulfil the pledges of the government. The successful completion of the forum has assured the completion of all the projects within the five-year term, the minister said.
He further said that the government accepts there is much to improve in the governance of the country’s economy. Stating that the country’s ratings were low, minister explained that the country is in colossal debt and the financial system was mishandled.
These issues can only be solved by investing in better investments. The forum had paved the way towards this aim, minister said.
Noting that there were hindrances for international investors to invest in the country during the previous administration, minister Ameer stated that the aim of the current government is to facilitate an easy way for international partners to invest in the Maldives.
Minister said a fiscal system is already being created to make this task easier and the government has also decided to establish an arbitrary centre.
Speaking after the forum, foreign minister Abdulla Shahid stated that the greatest achievement of the forum was to re-establish the lost trust of other countries. He further said that the forum revealed the mutual focus of all the institutions of the country, which was acknowledged by the international participants.
Noting that the biggest obstacle faced by the country’s economy was due to the lack of conviction for the country, minister said the show of unity at the forum has reaffirmed the faith of other countries towards Maldives. Thus, investors will return to the country and this in turn will help develop the island nation, minister said.
A total of 135 participants from 35 countries attended the forum, while over USD 1 billion was raised for development projects.
The aim of this year’s forum, themed “Investing in Resilient and Sustainable Maldives”, is to understand the ways in which the country can be developed by collaborating with other countries and proceed with the government’s development plan.
Yesterday’s session focused on the macroeconomic and fiscal overview, Blue Economy: Addressing inclusivity and sustainability in economic development, and Enhancing Social Outcomes: Investing in healthcare, education and housing.
During the forum MoU’s were signed with various countries for the development of sectors in the Maldives.