Describing the bridge as symbolic for all South Asia, the Minister for Economic Development has revealed that 12 of 19 companies having expressed interest are Maldivian. The long-awaited project is expected to improve local commerce and ease congestion in the capital.
The State Trading Organisation had sued Meridian seeking to recover MVR19.3 million (US$1.2 million) released as credit to MP Riyaz’s company. The case was dismissed after the STO’s lawyers failed to attend the hearing.
Vadinolhu island will be developed into a five star resort through the Best Choice Real Estate Development company, which has urged developers to take care of the Maldives’ “investment friendly policies”.
Fisheries Minister Dr Mohamed Shainee told the press today that it was important for local fishermen to be active in all areas of the country to prevent encroachment by foreign fishing boats as the coastguard could not patrol the entire Exclusive Economic Zone.
While the world’s media has focused on the Prince Salman’s alleged reservation of three entire resorts, Saudi papers have revealed that the visit will include discussions on investments in tourism, transport, energy, and Islamic affairs, as well as a US$300million soft loan facility.
During his Maldives visit, Indian Minister of External Affairs Salman Khurshid also pledged US$10 million for the renovation of IGMH. The Maldivian government expressed gratitude for the resumption of construction material imports and the easing of visa restrictions.
The trade union has suggested that certain resorts are reducing the amount of service charge given to employees, calling upon the government to improve regulation. Meanwhile, others in the industry have expressed doubt that such practices exist.
More than 200 plots of land were awarded by the MDP government to companies contracted to provide ferry services at a loss to the state, President Yameen said last night, characterising the public-private partnership programme as wasteful and the most corrupt in Maldivian history.
Three quarters of the US dollars entering the Maldives are spent on importing goods to the country, Maldives Monetary Authority Assistant Governor Dr Azeema Adam said yesterday at a ceremony launching the central bank’s Quarterly Business Survey.