Opening up a residency program allowing foreigners to live in the Maldives is a good concept in principle, and the best course of action for the government would be to promptly send the agreement to the parliament, former President and opposition MDP Chairperson Mohamed Nasheed stated today.
The government has signed a commercial terms agreement with the UAE-based company Eagle Hills to execute a major project spanning 500 hectares of land, which includes tourism and real estate ventures. Nasheed has previously spoken in support of the project.
At that time, he stated that the only issue with the matter was carrying out the project in the Malé region.
Even as some opposition political leaders object to the project and level various accusations, Nasheed stated in a post on X today that there is no issue with opening up the Maldives through this economic project.
According to Nasheed, based on the discussions heard so far regarding the project, there are two issues: "1- Advance funds not being received. 2- The place being built in the Malé region."
He stated that the best course of action for the government in this matter would be to quickly send the contract to the People's Majlis.
"[And] for this government's majority to pass the legal framework required for this project," Nasheed stated.
He made these remarks while Attorney General Ahmed Usham has stated that the project will proceed under a newly formulated Real Estate Act.
Since the ruling PNC holds a supermajority in the People's Majlis, this would be an easy task.
Nasheed also stated that the project intended to be carried out in Rasmalé under the name "Maldives Waterfront and Marina Project" is good during a media briefing held last Wednesday at the MDP office.
Answering a question posed by a journalist that day, he stated that Eagle Hills had discussed executing a similar project in the Maldives, and that he had requested even then that the project be implemented outside the Malé region. He also stated that carrying out such projects in the Malé region leads to congestion and depopulation of islands.
Nasheed gave that answer when a journalist asked whether he was "aware of the terms and conditions" of the agreement signed by the government with Eagle Hills.
"We need to know its details, how it will be done, and the terms and conditions. As I mentioned, foreign direct investment, privatization, and asset sales in principle are principles that I believe in," Nasheed said in response to that question.
Following that answer, when the journalist repeated the same question, Nasheed stated that the terms and conditions should be correct, but that as a matter of principle, knowing the terms and conditions is not strictly necessary to state that the project is good.
"I am a person who supports foreign direct investment. I believe that [through it] prosperity will increase for the Maldives and the people of the Maldives. People want prosperity. The people want happiness, the people want freedom from anxiety, obtaining housing, and having business opportunities," Nasheed stated.
He stated that the Maldivian economy can only be advanced by bringing foreign investments into the country, and added that the investments brought in must be major ones.
When a journalist asked if he supports the project in his capacity as the top leader of the main opposition party, Nasheed stated that the MDP is a centre-right party and that the party supports privatization and bringing in foreign investment.
However, Nasheed also noted that he cannot unilaterally determine the policies of the MDP as a party. He added that the approach taken toward the project under an MDP government would be determined within the presidential election manifesto.
