Nasheed backs residency program; 'new avenues for tourism'

Former President and MDP Chairman Mohamed Nasheed has expressed support for the government’s residency program, saying it provides an opportunity to develop another tourism business.

The foundation stone of the first township project under the Special Economic Zone (SEZ) Act was laid on January 29 this year. The government has said the SEZ project is an important part of its vision to make Maldives an economically prosperous country.

Nasheed expressed his support for the project after 13 members of the MDP parliamentary group signed a no-confidence motion against Economic Minister Mohamed Saeed. One of the points raised in the case is that the government amended the SEZ Act to the detriment of the state.

In a brief post on X, Nasheed said the residency program would benefit Maldives.

Alhugandah fenna gothugai Residency program akee Raajje ah nuhanu faidhaa vaane kameh; ehen baavathehge Tourism viyafaareege furusatheh.

— Mohamed Nasheed (@MohamedNasheed) August 1, 2026

He wrote that he believes the residency program will be highly beneficial to Maldives, creating new opportunities within the tourism industry.

The MDP parliamentary group said the townships have been introduced and some areas of Maldives have been handed over to foreigners.

Saeed introduced a residence-by-investment program called Maldives Pearl Residence to enable foreigners to live in the townships for long periods. The MDP said this would lead to black money laundering and tax fraud, and would endanger the country’s sovereignty.

Saeed said last month that tourism is the mainstay of Maldives’ economy, but there are more opportunities to expand the economy. He said the government’s vision is to make Maldives a competitive and open investment destination.