Tourism Minister Moosa Zameer has said that the Government will not carry out projects that do not yield economic benefits.
Speaking to press in the President’s Office, Minister Zameer compared to the economic status during President Nasheed’s tenure, noting that Nasheed’s regime was unable to show the results of their economic agenda.
“We are working to generate some use from these investments,”
Minister Zameer said the housing flats being developed in Hulhumale’ were a basic right developed on commercial use. Therefore, he said these flats will also generate incomes, able to pay back the loans.
He added that the Government attempted the projects based on calculated risk, noting that this was the principle behind the airport development loan as well.
He also added that this fiveear term alone, 50 resorts will open up. He said developing the airport was a vital aspect in increasing tourist arrivals, noting that a multiplier effect will be observed from the project.
Minister Zameer further said the loans taken had grace periods of five years and that this was sufficient period to bring in some returns. He said the risk was limited and any change will be tied to a global change in circumstances.
Will not carry out projects with no economic gain: Zameer
