UAE interested in wide-ranging investments in Maldives

UAE interested in wide-ranging investments in Maldives

Male, November 8 (newsin.asia): The UAE Minister of Economy, Sultan bin Saeed Al Mansoori, expressed his country’s interest in investing in a variety of sectors in the Maldives, when he met the Maldivian Minister of Economic Development Minister, Mohammed Saeed, recently.

According to the two ministers, the most promising areas of investment are aviation and tourism, real-estate, renewable energy, and the Small and Medium Enterprises (SMEs).

The total volume of non-oil foreign trade between the two countries has progressively increased over the past five years. It rose from AED 422 million in 2015 to AED 475 million in 2016 (USD 129.2 million). The UAE is the biggest trading partner of the Maldives in the region.

UAE Minister Al Mansoori, sought reinforcement of cooperation in foreign trade, manly in export and re-export activities and urged the government and private sectors  from the two countries to work in a coordinated manner.

Al Mansoori further said that the UAE- aldives Business Forum, which will be held on December 18, 2017 in the UAE, will showcase the numerous trade and investment opportunities in the Republic of Maldives.

Maldivian Minister Saeed spoke about his government’s interest in promoting sectors such as aviation, renewable energy, and real estate. He also said that the government of President Abdulla Yameen is keen on establishing Free Trade Zones to attract foreign investors.

(The featured image at the top shows the UAE Minister of Economy, Sultan bin Saeed Al Manooori in talks with the Maldivian Minister of Economic Development Mohammed Saeed) 

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