Maldives to announce investment opportunities next month

An investment opportunity in the Maldives will be announced on October 4th for the development of the southern region of the archipelago.

The former administration of President Abdulla Yamene Abdul Gayyoom also initiated a mega-development in the south named ‘iHavan’. The project targeted to develop a transhipment harbour in Ihavandhippolhu, along with an export processing zone, dockyard and bunkering facilities. Although the feasibility study on the project was completed, the term ended before the project could be implemented.

The Maldives Tourism Ministry on Tuesday posted a video advertisement on its official Twitter profile, featuring beautiful sceneries from the Ihavandhippolhu region. The ad announced that lucrative investment opportunities would soon be opened for the Ihavandhippolhu region, and noted special features of the region such as the already established transport system, and the development of two international airports in the area.

When the former government initiated the iHavan project, the current administration, then the opposition, had criticized the project, stating that the project was not feasible. However, the current administration has said it would continue the project. While the transhipment harbour project is being studied, Economic Minister, Fayyaz Ibrahim earlier stated that the best location for a transhipment harbour is Ihavandhippolhu.