Former Finance Minister Ibrahim Ameer said the Maldives should secure at least a 50 percent equity stake in major foreign investments, and criticised the Ras Male' project as economically irrational. He was speaking at the 38th meeting of the MDP National Council's fourth session on Sunday night.
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Speaking at the 38th meeting of the MDP National Council's fourth session on Sunday night, Ameer heavily criticized the Ras Male' project.
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Former presidents of the Maldives were unable to achieve results in this manner. These outcomes are only possible because the entire country has been sold off; if you do that, even larger investments will follow. In such a scenario, securi…
Ameer stated that while the Maldives could potentially attract a trillion dollars in investment if the entire country were to be sold off, the government's proposed Ras Male' project is an economically irrational undertaking.
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a sound Foreign Direct Investment (FDI) project should guarantee the country at least a 50 percent equity stake from day one
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while the Maldives receives only 10 percent of the revenue generated from the land
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to a private party for 99 years to be utilized for business at their discretion, free of charge
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based on current market rates in Malé and Hulhumalé, the value of that land would amount to approximately $25 billion to $30 billion
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the $12 billion figure, or the $30 billion mentioned by the Finance Minister, refers to the projected Gross Development Value (GDV) or the total asset value of the township once it is completed in 10 to 15 years
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