President Yameen seeks joint venture investments from Saudi Arabia
President Abdulla Yameen briefed a visiting delegation from Saudi Arabia this morning on investment opportunities in the Maldives and invited joint venture investments from the kingdom. The Saudi officials were among several dignitaries who arrived in the Maldives this week to attend an official function held last night to celebrate the golden jubilee of independence.
27 Jul 2015, 9:00 AM
President Abdulla Yameen briefed a visiting delegation from Saudi Arabia this morning on investment opportunities in the Maldives and invited joint venture investments from the kingdom.
According to the president’s office, President Yameen told the delegation that the Maldives is “open for joint venture investments.”
“Highlighting the difficulties faced in travelling between Maldives and Saudi Arabia, the President noted the importance of establishing better transportation between the two countries,” the president’s office said.
The invitation for Saudi investment comes after the ratification of controversial amendments to the constitution last week that authorises foreigners who invest more than US$1 billion in a project to own freeholds in the Maldives. President Yameen has said that the unprecedented changes will “speed up the pace” of realising the current administration’s goal of “transforming the economy” through diversification and large-scale projects.
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