Minister of Economic Development Fayyaz Ismail has stated that Indian businesses have numerous opportunities in the Maldives. He made the statement at the opening ceremony of the India-Maldives Business Forum held in New Delhi, India. The forum was held as part of President Ibrahim Mohamed Solih’s official visit to the neighbouring country.
Speaking at the ceremony, Minister Fayyaz noted the large number of infrastructure development projects being carried out in the Maldives and said more projects will commence with assistance from the Government of India. He said the development initiatives will also provide more opportunities for Indian contractors and developers.
Furthermore, Minister Fayyaz detailed that the ongoing projects include the development of airports in various parts of the Maldives and the development of a port in the Greater Male’ Region. He said that more projects will commence with funding from the line of credit provided by the EXIM Bank of India, which will provide further opportunities for Indian businesses.
Additionally, Fayyaz further shed light on business opportunities related to the Maldivian fishing sector. He said that the sector is in need of investment for the development of fisheries infrastructure, fish processing, value addition, and aquaculture. He gave details on the various large projects that are ongoing and ways Indian investors can participate in the development of the fisheries sector.
Those in attendance at the India-Maldives Business Forum included President Solih, members of his cabinet, and representatives of Indian and Maldivian businesses.