The Edition

Latest

USD 339 mln foreign investments expected in 2016: Maldives central bank

Fathmath Shaahunaz
15 June 2016, MVT 14:06
An aerial view of Six Senses resort in Laamu Atoll.
Fathmath Shaahunaz
15 June 2016, MVT 14:06

Foreign companies are expected to invest USD 339.2 million (MVR 5.2 billion) in the Maldives this year, declared Maldives central bank.

According to Maldives Monetary Authority (MMA)’s monthly statistics, foreign investments in the Maldives last year amounted to USD 323.9 million, while the investments in 2014 were at USD 333.4 million. The majority of the investments were in the tourism sector.

Foreigners must have minimum ten percent share of an investing company for MMA to count it as a Foreign Direct Investment (FDI).

While the majority of foreign firms invest in the Maldives’ tourism industry, statistics indicate that ten new resorts are to be opened within this year.

MORE ON NEWS