The Edition
facebook icon twitter icon instagram icon linkedin icon

Latest

Maldives bans foreign investments in local entertainment industry

Fathmath Shaahunaz
26 June 2018, MVT 11:34
Economic Minister Mohamed Saeed speaks at the 2017 Maldives Investment Forum held in Dubai: the forum aims to bring more foreign investments to the Maldives. PHOTO/ECONOMIC MINISTRY
Fathmath Shaahunaz
26 June 2018, MVT 11:34

The government on Monday imposed a ban on foreign investments in the Maldivian entertainment industry.

In a notice, Ministry of Economic Development declared that foreign investors were henceforth banned from working in the local entertainment industry, as well as event management and production businesses.

The prohibition includes management or operation of any local entertainment businesses, renting out audio visual equipment, and selling or renting of musical instruments as well.

Furthermore, foreign investors are prohibited from managing special events held in Maldives, along with production of props and other resources for these activities.

The economic ministry stated that the ban was effective immediately, and ordered all foreign investments in the entertainment industry to stop their businesses.

Earlier, the government had also banned foreign businesses from working in the local photography industry.

MORE ON ENTERTAINMENT