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No barriers to foreign investment: President Solih

17 December 2018, MVT 12:11
President Ibrahim Mohamed Solih meets with select CEOs of India. PHOTO: PRESIDENT'S OFFICE
17 December 2018, MVT 12:11

President Ibrahim Mohamed Solih, on Sunday, welcomed foreign investment in Maldives, at the India-Maldives Business Forum held in New Delhi.

Solih spoke at the forum organised by the Confederation of Indian Industry (CII), during his three-day state visit to India. The newly elected president stated that there were no barriers to foreign investment in Maldives, as the country is experiencing considerable economic progress within fields such as infrastructure and tourism. The president cited the ongoing development of harbours and regional airports as evidence of economic advancements.

President Solih stated that overseas investors are free to make ownership investments in the country, and guaranteed legal coverage to foreign investors.

The Indian Commerce Minister Suresh Prabhu and leading members of the Indian Chamber of Commerce met the president after the conclusion of the Business Forum. In addition, several businessmen took the initiative and expressed their readiness to invest in Maldives.

Numerous Indian businessmen inquired about investment opportunities from Maldivian ministers who attended the forum.

President Solih's entourage includes Minister of National Planning and Infrastructure Mohamed Aslam, Minister of Foreign Affairs Abdulla Shahid, Minister of Finance and Treasury Ibrahim Ameer and Minister of Economic Development Fayyaz Ismail. Some media representatives are also accompanying the president on his first state visit to the neighbouring country.

While hundreds of locals travel to India for medical, business or leisure related purposes, Solih has stated that India is a prime trading partner of Maldives.

President Solih has pledged to remedy the deterioration of relations between India and Maldives which occurred during the presidency of Abdulla Yameen Abdul Gayoom. Both nations are currently strengthening relations and co-operating in many key areas.

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