Indian investors can strike gold in Maldives

Saturday, 27 December 2008 20:56

"Today we are having a different kind of democracy in Maldives - a democracy, in which politics has taken a back-seat and commerce has taken a lead. Investors will have a very smooth sailing here," said Mr Maizan Omar Manik, President, Maldives National Chamber of Commerce and Industry (Mncci). "Now it is time for Indian investors to strike gold in Maldives in real sense. Maldives is looking for cooperation in many different areas of commerce and economy, including power, housing and hotel & tourism industry," he added.

He was speaking at the Meeting with Maldives Business Delegation, organized by the Confederation of Indian Industry (CII), here today. Speaking on tourism industry in Maldives, Mr Maizan said, "As such India, compared to Maldives, is far ahead in the hotel industry. However, Maldives has certainly developed expertise in island tourism." In his welcome address, Mr V K Mathur, Chairman & Managing Director, Inapex Limited, said,

"Maldives offers big opportunities for Indian entrepreneurs and investors. Presently the trade between India and Maldives stands at 19.3 million dollars and there is scope to multiply it many times." "India and Maldives have a long history of good relation and close friendship. In the new world order, when there is a tectonic shift in the centre of economic activities of the world from Europe and the US to Asian countries, we look forward to building a more vibrant business relation with Maldives," he said. Speaking about the tourism industry in Maldives, Mr Mathur said,

"Maldives is doing better job than India in tourism sector and has initiated many innovative schemes to attract tourist from all around the world." Mr Ahmed Siyam Mohamed, President, Sun Travel's and Tours Pvt Ltd, said, "There is now a big opportunity for Indian investors in hotel, travel and tourism industry in Maldives." "It should also be noted that no investor has ever lost money in Maldives. It is one of the safest places in the world for investment," he emphasized. Mr Ahmed Shahid, First Secretary (Economic and Commercial), High Commission of Maldives in India, said,

"Housing is now one of the priority sectors in Maldives. The government is trying to decentralize the housing sector. In this changed scenario, we are looking towards India for partnership in this areas, especially in mid-to-high and affordable housings."

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