The workshop held under the American government's Commercial Law Development Programme, in collaboration with the Ministry of Finance, to create awareness amongst government employees about business contracts concluded on Wednesday.
Speaking at the inauguration ceremony for the workshop, State Minister of Finance Ahmed Shareef stated that government authorities failed to prioritise contract management in the past and therefore, had to pay large amounts in compensation to various companies.
As of now, President Ibrahim Solih's administration has spent over MVR 1 billion, paying off compensation costs over breaches of contract.
"The government will give special attention to minimize the possible risks due to contracts and follow the best practice across the globe in writing the agreements", he said.
Shareef affirmed that the government will prioritise protecting the rights of all the parties pertaining to the agreements.
Experts in the field of writing contracts for infrastructure development delivered keynotes in the workshop.
Over 30 individuals from various government offices participated in the two-day workshop held in Hotel Jen from November 3 to 4.
In addition to Finance Ministry, individuals from Ministry of National Planning and Infrastructure, Ministry of Housing, Ministry of Environment, State Trading Organisation (STO), Maldives Transport and Contracting Company (MTCC) and Attorney General (AG)'s Office attended the workshop.