Good response expected by investors for tourism development projects: minister

Tourism Minister Dr. Abdulla Mausoom has stated that large investments are expected for the islands that are being put up for resort development next year.

The islands are being put up for resort development to increase revenue for next year’s state budget. Speaking on a program aired by a local TV channel, Dr Mausoom said although the global economy has declined by 4.4 percent, Maldives is a country where investments are recovered quickly, which ensures a good response from major investors. While most investments are recovered within ten years, this makes Maldives an attractive investment destination, said the minister.

The government has estimated a revenue of MVR 154 million by leasing islands for tourism in its proposed budget for the upcoming year. The government is currently seeking investors for two tourism development projects - the development of a yacht marina in Uligan and the development of a city hotel in Ha. Kelaa.