Maldivian economy predominantly thrives on tourism and fishing and these obviously are the main foreign exchange earners. And despite the fact that our economy has seen tremendous growth in the past years, limitations on natural resources and technical know-how pose challenges to its sustainable progress. As a matter of fact, including tourism, the economy is largely driven by service industries such as construction, shipping, telecommunication, aviation and banking. Hence, foreign collaboration along with potential foreign resources, capital investment and expertise, are a necessity to make the optimum use of the available local resources to transform and boost the economic strength of the country. In this account, Indian investors are eagerly welcomed and invited to ascertain the prevailing opportunities in the said service industries whereby exploring the possibilities of initiating mutually beneficial investment projects.
Foreign Direct Investments (FDI) has always played a crucial role in the economic development of the Maldives. The Government acknowledges the importance of foreign investment and recognizes its contribution to economic development and employment creation.
The Law on Foreign Investments in the Republic of Maldives (Law 25/79) governs foreign investments in the country. Foreign investments in the tourism sector are registered with the Ministry of Tourism while all non-tourism foreign investments are registered with the Ministry of Economic Development and Trade.
The success of foreign investments in the Maldives can be attributed to its open and liberal economic environment, relative political stability and the consistent growth of the economy, which has achieved an average annual growth rate of 7.5 percent over the last 15 years. Foreign investors are offered a simple and transparent policy environment and continuous efforts are being made to make the investing environment more predictable and transparent.
Capitalizing on the numerous benefits of investing in the Maldives, many reputed international brand names have established their investments in the country. Amongst them are world class resort investments by international hotel chains such as Hilton, Four Seasons, One & Only, Club Med and numerous other regional brands. Other foreign investments in the Maldives are concentrated in the transport and telecoms sectors, water production and distribution, and in the financial sector. Many global brand names, such as Hong Kong Shanghai Banking Corporation (HSBC), Ernst and Young (E&Y), Price Waterhouse Coopers (PWC), KPMG and many reputed insurance providers have strongly established themselves in the Maldives.
For information on non – tourism related investments, please contact:
Ministry of Economic Development
Invest Maldives Building, First Floor, Boduthakurufaanu Magu , 20-05, Republic of Maldives
Phone: (960) 3333125, Fax: (960) 3323840
For additional information on Company registration and other trade related matters please contact:
Ministry of Economic Development
Boduthakurufaanu Magu , 20-05,
Phone: (960) 3323668 Fax: (960) 3323840
IMPORTANT BUSINESS LINKS
Maldives National Chamber of Commerce and Industries
G. Viyafari Hiyaa Ameenee Magu
Male’ 20-04 Republic of Maldives
Telephone: +(960) 3326634, 3310717, 3310234, 3321889
Fax: +(960) 3310233