Elaa tourism development with Veymandoo-Kinbidhoo causeway

President Dr. Mohamed Muizzu has stated the development work for the Th. Kinbidhoo and Veymandoo causeway will move forward along with adjacent island Elaa being made into an integrated tourism island.

The Veymandoo-Kinbidhoo causeway project is a pledge of the President.

President Muizzu met with residents of Veymandoo during his Thaa Atoll visit, saying that instead of utilizing the administration's budget as a PSI Project (PSIP), it would prove more beneficial to conduct the project under the Contractor Financing policy. The President said this while taking the distance between Kinbidhoo and Veymandoo into account.

President Muizzu highlighted that the Construction Ministry had announced this on 22nd September.

"When looking at the distance between the two islands, we believe it to be more feasible to build a causeway by conducting the project as explained rather than through government funding as a PSIP project," said the President.

President Muizzu stated that the causeway project will move forward with the opportunities to invest in Elaa as an integrated tourism island. He went on to say that it will allow the project holders to undertake the project via a cross-subsidy model. It will also allow them to propose other models if they want to recover their investments through investor loan finance, contractor finance and more.

President Muizzu stated that the development of tourism in Thaa Atoll will move forward as per his pledge and interest will mount in investing towards the causeway project.

A discount was put into place in June for two years for tourism investments in Thaa Atoll and beyond so that areas that are lacking in tourism can see development, as was said by the President. He also stated that a lot of concessions were made in lowering investment rates for investors.

President Muizzu said that with said concessions, submissions have been made to some parties to invest in tourism.

"Tourism will hopefully flourish in this atoll with the concessions that have been granted in tourism expansion," said the President.

Since Veymandoo is the administrative capital of Thaa Atoll, most services are allocated in Veymandoo as well.  After the causeway is built, it would make the people's lives easier when they want to travel and seek out said services. 

Along with the Veymandoo-Kinbidhoo causeway, President Muizzu pledges to build the Th. Madifushi-Dhiyamigili causeway as well. The President announced that both causeways would be completed during his Thaa Atoll visit early last year.