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Priority to diversification rather than relying on one industry: Vice President

Malika Shahid
21 September 2022, MVT 12:18
Vice President Faisal Naseem speaking at the Villa College High Achievers Awards ceremony -- Photo: President's Office
Malika Shahid
21 September 2022, MVT 12:18

Vice President Faisal Naseem has said that the country's economy should not rely on any particular industry and instead should give priority to diversity.

Speaking at the High Achievers Awards ceremony held at Villa College, Vice President Faisal said the biggest challenge faced by the Maldivian economy during the pandemic was the over-reliance on a single industry.

"We saw that there were problems due to the country's single industry dependence. We have to make efforts to diversify if we are thinking of positive economic growth," he said.

He said special attention should be paid to all sectors to build people and create a resilient community.

Noting that Maldives is still heavily dependent on the tourism industry, VP Faisal said that the resources available in the country should be optimized to maximum capacity.

"Let us make it your pleasure to render a service, be it at the national, atoll or island level," he said.

At the ceremony, 22 students received the Gasim Ibrahim Award for Excellence, 42 students won the Villa College Gold Medal and Industry Prize, seven students won the ACCA National Resident Prize and 107 students won the Villa College Book Prize.

A total of 15,899 students have graduated from Villa College so far.