Vice President Ahmed Adeeb Abdul Ghafoor has stated that two mega projects will change the entire landscape of the nation.
Speaking to the members of press, VP Adeeb stated that ownership of land, made possible under the amendment to the Constitution, was different to that of long term leases, such as that for tourism. He said that in such areas, one or two mega projects will be carried out, which will radically transform the economy and the nation. He cited Dubai and Singapore as examples.
VP Adeeb stated that most of the infrastructure projects were carried out under loan schemes. However, he stated that the Government did not have that much capability to carry out all the work under this manner and therefore had to rely on foreign investments.
VP Adeeb added that the sum of all current investments in the country amounts to US$ 5 billion, out of which some projects had a lease period of 99 years. He warned that such businesses will be closed if they fail to meet Government standards or pay rent.
Adeeb said that the land ownership measures will be subject to State and Parliament scrutiny and will be scrapped if conflicting the laws of the nation. He added that this measure will be carried out under a business model.
Adeeb added that nations such as Singapore had gained independence in the same year as Maldives, but when compared Singapore had covered more milestones in the same period. He added that he wished to see Maldives on the same foot as Singapore.
VP Adeeb noted that the main aim of all these projects was to ensure that Maldivians were self-sufficient and developed with a robust economy. He also noted that this will not occur at the expense of the security of the nation, citing that this was a surmountable challenge.
Two mega projects will change landscape of the nation: Adeeb
