Minister of Tourism Ibrahim Faisal said the administration is working to fast-track 25 stalled or slow-moving tourism development projects, part of a broader goal of bringing 20 new resorts into operation this year. He cited access to finance as the main obstacle, while a Ministry of Finance report puts state losses at about US$1.7 billion annually from delayed tourism island completions.
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Among the 63 projects presently in different phases of development, a considerable proportion are experiencing slow progress or have reached a standstill due to an array of challenges
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The administration plans to fast-track 25 tourism development projects that have been stalled or are progressing slowly, Minister of Tourism Ibrahim Faisal has revealed.
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bringing 20 new tourist resorts into operation this year, a plan previously outlined by President Mohamed Muizzu in his inaugural presidential address.
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“Among the 63 projects presently in different phases of development, a considerable proportion are experiencing slow progress or have reached a standstill due to an array of challenges,” Faisal explained.
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Some of these leases date back 20-25 years, and the administration aims to open approximately 25 of these projects where construction is currently underway, he added.
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the state is losing around US$ 1.7 billion annually in income due to delays in completing islands leased for tourism development.
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In 2021, the Solih administration absolved developers of 18 percent of the fines accrued due to delays in remitting tourism rent, specifically for projects impeded due to various reasons.
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