Minister of Economic Development Fayyaz Ismail has stated expansion of businesses and the development of economic activities are essential to achieve the development desired by the public.
Speaking at first ever councilors conference held in Maldives, the economic minister said although the administration discusses blue economy due to the economic gain it sees from the surrounding lagoons, oceans and other facilities, such resources have not yet been used by people for the maximum economic benefit. The administration expects the communities to put to use the resources at their disposal to solve the social problems faced in the society, said the minister.
Further, minister highlighted that the administration has inherited a country with a weak economy and a poor social structure and a solution needs to be sought to address the issues in the society. The minister also remarked some practices against business and emphasised the importance of expansion of business for social development. The government must stop doing businesses in order to empower the people more and use their wealth for social development, stated the minister.
Moreover, economic minister called the councilors to invest the funds available to them wisely, instead of wasting public funds. He remarked the importance of empowering business activities and called councils and other authorities in the administration to create a conducive environment for local businesses to prosper. The economic minister also discussed the importance of a public transport system in order for communities to advance economically and resolved the government’s efforts to establish a better transport system next year. He said it will result in better economic activities.