Economic Minister Mohamed Saeed have said that once the free trade agreement with China comes into effect, resorts that were developed with 20 million dollars could be developed for 16 million dollars. In addition he said that guest houses that now costs 1 million dollars could be developed for 800,000 dollars.
Speaking at the inauguration ceremony of Hotelier Summit TTG 2018, the minister said that the FTA will come into effect this year and at once duty from 95% of the items imported from China will be waived. He said that this will decrease the price of many goods and it will benefit investors.
The minister noted that tourism sector will develop and said that the emerging tourism market in the world today is Africa. He said that hence tourists from the east who travel to Africa will find Maldives to be a desired destination.
In addition the minister said that the air cargo complex which was initiatlly planned to developed in Hulhule will now be developed in Hulhumale’. “As a result Hulhule’ and Hulhumale’ will be connected by a cargo bridge. So all the resort supplies will be readily available from Hulhumale’. In addition fish exports can be directly made from Hulhumale’” said the minister.
Once FTA comes into effect resorts that were developed with 20 million dollars could be developed for 16 million dollars : Saeed
