Minister of Tourism Ibrahim Faisal has announced strategic decisions to expedite the development of abandoned islands leased for resort development.
In an exclusive interview with PSM News, Minister Faisal revealed that the Economic Council has approved two key measures from a proposal aimed at accelerating the development of these islands.
One approved measure involves reclaiming the islands that have seen no development activity, returning them to the state without any conditions. The tourism ministry will collaborate with the Ministry of Finance and the Maldives Inland Revenue Authority (MIRA) to negotiate concessions on the substantial fees owed by lessees to the state.
The second measure focuses on finding solutions for islands where development has stalled due to various issues. The tourism ministry will assist in securing the necessary funds or facilitate the sale of these islands to new developers.
The tourism minister emphasised that accelerating the development of these islands will require legal adjustments. He noted that the state incurs significant financial losses when leased islands remain undeveloped.
According to the ministry’s statistics, there are 63 islands leased for resort development that have yet to be developed. Some of these islands have been leased for over 30 years.
The minister also highlighted that more islands will be developed and opened as resorts during this tenure. He projected that 12 to 15 new resorts will be opened over the next five years.