Economic Ministry have stated that foreign investments worth 200 million dollars have been registered within the first quarter of this year and that it is a good start.

Speaking to the press at the economic ministry, registrar of companies, Mariyam Visaam said that these investments include investments in the tourism sector and construction industry.

Visaam said that foreign construction companies are registered only when they win projects worth more than 5 million dollars. If it is less than 5 million dollars then the investment should have a 35 percent share of a Maldivian company. “We do that to provide more opportunities for Maldivian companies. There are very good construction companies in the Maldives” said Visaam.

Visaam said that they register foreign investments with a requirement to start the projects within 5 years. She said that even now foreign investments that were registered previously are coming in.

Currently 20 new resorts are being developed in Maldives. The government aims to open 50 new resorts within the first term of this government.