Economic Ministry publishes list of Foreign Direct Investments

The Economic Ministry has published a list of companies that are active in the Maldives as Foreign Direct Investments (FDI).

234 companies have been listed as FDI’s under the Economic Ministry’s relevant registry. The list shows the details of the company, date of investment and duration of investment.

According to the Economic Ministry’s directory, one of the first foreign companies to register as an FDI in the Maldives was international audit firm, PricewaterhouseCoopers. The company is still active as an FDI in the Maldives. The list also includes Maldives Inflight Catering, which was registered as an investment body in 1988, and renowned tourism company Kuredu Holding.

The most number of investments were recorded in the Maldives between 2013 and 2018. It was during this period that the fast food and franchise businesses were first introduced to the Maldives.

According to statistics previously shared by the Economic Ministry, 33 investments were made in the tourism sector in 2019, while 45 other investments were made in other sectors. The Maldives recorded a total of 78 investments in 2019.

The tourism sector investments added up to USD 817 million while the remaining investments of other sectors was equivalent to USD 2.9 billion. The total investment value in 2019 was USD 3.7 billion.

In comparison, 11 tourism investments and 27 other investments were recorded in 2020. The investment value for the 38 investments amounted to USD 294 million: USD 89 million for tourism sector investments and USD 205 million for other sectors.

Maldives is one of the ecountries that receives the most tourism investments from among South Asian countries. The most number of investments were recorded in the Maldives during the administration of former President Abdulla Yameen Abdul Gayyoom. Over 50 resorts were opened in the Maldives during his administration, and most resorts being currently opened were leased during his presidency.