Foreigners banned from mobile phone business
“The ministry believes that the mobile phone business has much potential. We would like to encourage and pave way for locals to invest in the trade,” Ali Abdulla, economic development ministry spokesperson, told The Maldives Independent.
19 Oct 2015, 9:00 AM
The Maldives has banned foreigners from selling mobile phones and accessories in a bid to create opportunities for local businesses.
In an announcement today, the economic development ministry said foreigners engaged in the mobile phone trade will have a three-month period to shut down businesses operating in the Maldives.
“The ministry believes that the mobile phone business has much potential. We would like to encourage and pave way for locals to invest in the trade,” Ali Abdulla, economic development ministry spokesperson, told The Maldives Independent.
The business registration law authorises the ministry to ban foreign investments in selected areas.
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