The SEZ bill “would bring unparalleled development” to the Maldives and accelerate development of the country’s rural atolls, said celebrating Progressive Party of Maldives MPs.
“Investors willing to invest billions of dollars raise questions over land lease periods. If its 33 years, they are not interested in [investing]. We have now created the legal environment required to attract major investments. This creates such a framework,” Yameen said.
Opposition MPs have proposed amendments to the government’s flagship SEZ bill to add provisions for parliamentary oversight, mandatory consultation with local councils, and preventing sale of land to companies with a 49 percent stake held by foreign shareholders.
Speaking at the ‘Workshop on Migration Processes and Policies in the Maldives’ held yesterday, Minister of Foreign Affairs Dunya Maumoon emphasised the importance of addressing the gaps in the law regarding foreign workers.
A joint economic council is to be formed between China and Maldives, Yameen revealed, after which a feasibility study would be conducted ahead of a Chinese contractor commencing construction of a bridge connecting the capital Malé and Hulhumalé.
The report on climate and economics in South Asia released today said that the Maldives had the most to benefit from mitigation efforts, reducing economic losses caused from potential sea-level rises by more than two thirds.
An additional agreement was made to provide the Maldives Police Service with 150 motorcycles, while the grant aid – equivalent to MVR250 million or US$16 million – is to be used for developmental projects in the Maldives.
The government is seeking free aid from the Chinese government to finance ” a large portion” of a project for the construction of a bridge connecting the capital Malé and Hulhumalé, said President Yameen prior to his visit to China.
JP and MDP MPs boycotted parliament’s economic affairs committee today in protest of alleged procedural violations by the committee’s chair in his haste to complete reviewing the government’s flagship special economic zone (SEZ) legislation.