News

'Investors will not be let down; will be duly compensated'

Tourism Minister Ali Waheed has stated that the government will not disregard tourism investors in any manner even if projects that have negative environmental impacts are halted by the government.

In a press conference held on Monday, Minister Waheed assured that the government would honor all legal agreements between the government and investors, and will provide solutions for all investors over any differences.

"The president has requested that all projects must be implemented in such a way that the [natural habitats] are preserved. I assure all investors that the government will provide solutions although we ask you to cease work. This means, we will not disregard any of you. We do not believe these terminations should end up in a court battle over decisions we make in the name of the betterment of everyone in dealing with development projects", he said.

Minister Ali also stated that conserving all areas that needs to be protected in every atoll is a pledge of the current government.

"We will attend to these sites and will not take any chances that may harm the environment. If the contract with investor is legally binding, we will pay due compensation to the investors," said Ali.

This week, Tourism Ministry made the decision to terminate the resort development agreement for Odagallaa island of Gaaf Alif atoll. The decision comes after the development proposal of Odagallaa resort was rejected by the Environment Protection Agency (EPA). The report issued by the agency stated that the fishing sector would be negatively effected both socially and economically if a resort is constructed on the island. The government also terminated the lease agreement of Baa Innafushi over environmental concerns.