Amendments to Export Import bill will enhance economic activities: MP

Gan constituency MP Visam Mohamed has stated that the proposed amendments to the Export and Import Act will bring further developments to economic activities.

Proposing the bill to the floor, MP Visam, who sponsored the bill said the government’s intention to amend the Export Import Act is to reduce import duties and exempt duties from certain economic activities.

The bill proposes to exempt import duties from materials needed for building boats and fishing vessels, construction materials, and materials required for tailoring clothes.

Visam said in the current situation where the economic activities have declined significantly, and individuals and businesses are facing adverse economic effects due to the coronavirus pandemic, cutting down or exempting duty from imports will help to enhance economic activities.

Under the bill, it has been proposed to exempt import duty from home appliances such as washing machines, water filters, inverter air conditioners, and fire extinguishing appliances. It also exempts import duty from vehicles such as bicycles and motorcycles designed for disabled people, and spare parts for such vehicles.

Attention has been paid to reducing import of goods that harm the environment, and the health in addition to focusing on widening economic activities said Visam. Effective from January 2021, import of single-use plastics will be banned in the Maldives.

Visam said the bill will be structured in such a way that it accommodates the proposals of environmental NGOs, and students.