Mercantile courts essential to safeguard local and foreign investment, says Yameen

Former President Abdulla Yameen Abdul Gayoom said on Saturday evening that Maldives should establish mercantile courts, specialised business courts, to safeguard local businesses and foreign investments.

Speaking at a rally in Addu City, Yameen said there is a lack of confidence in the current judicial system, and that it is important to introduce special courts staffed with competent judges who have practiced in jurisdictions such as Singapore to handle major commercial disputes.

Yameen said such a system would allow business cases to be resolved swiftly, within around twenty days, and argued that foreign judges appointed to these courts would not be able to influence the state or any party involved in the case.

ޕީޕަލްސް ނޭސަނަލް ފުރޮންޓް (ޕީއެންއެފް) ގެ އައްޑޫ ފޭދޫ އޮފީސް ހުޅުވުމުގެ ރަސްމިއްޔާތުގެ ތެރެއިން . pic.twitter.com/39YtCvVTM3

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“My view is that there should be strong laws to protect large investments, both local and foreign, and strong judges who cannot be influenced or bought as they please,” he said.

Noting that Maldives’ tourism industry is a multi-billion-dollar investment sector, Yameen said appropriate measures must be taken to protect such a large industry. He added that even if foreign judges appointed to these courts must be paid USD 500,000 a month, it is an expense Maldives can and should bear.

Foreign tour operators and Maldivian tourism industry stakeholders have recently expressed concern over the government’s amendments to the tax law.