Minister of Economic Development Fayyaz Ismail has stated that Addu City had failed to garner investor confidence due to the underdeveloped state of the airport. He made the remark at the ceremony held to inaugurate the Gan International Airport (GIA) expansion airport.
At the ceremony, Minister Fayyaz said that President Ibrahim Mohamed Solih’s vision since taking office was to develop Addu City as part of the national development agenda. He said that the underdeveloped state of the airport has been a significant obstacle to the city's progress, as the lack of airport development has resulted in reduced investor confidence and impeded the growth of the tourism sector.
Additionally, Minister Fayyaz said President Solih has solved the financial challenges faced by investors and brought positive changes to the taxes levied on tourism investors to reduce discrimination. He added that the administration is focused on the development of Addu City due to its huge potential.
Also at the ceremony, Majority Leader of the Parliament of the Maldives Mohamed Aslam addressed criticisms from politicians and said that President Solih was able to begin the development of Addu City while they had squandered their own opportunities for progress and are now engaging in opposition tactics to generate controversy.
The development of GIA is being carried out under the line of credit of the Exim Bank of India. The project aims to develop GIA to serve 1.5 million passengers per year and includes the construction of a new domestic terminal, control tower, and fire station, as well as upgrading and renewing the current terminal, duty-free shops, and restaurants. A new control tower, fire station, cargo facilities, roads, and parking areas will be developed under the project. It also includes paving a new path that leads to the airport, as well as installing solar panels. The estimated cost of the project is USD29 million.