Minister: SEZ

Minister of Economic Development Mohamed Saeed has said that the country will see the benefits of the Special Economic Zone (SEZ) about 20 years later.

The minister made this remark while speaking at a function held at the carnival grounds in Male’ yesterday evening (28 August), to celebrate the approval of the SEZ Bill by the parliament.

He said that a great amount of research went into the creation of this bill, and that through these efforts, the government will achieve economic ‘wonders’ such as the construction of the planned bridge between Male’ and Hulhule’.

“We visited several countries to do the research, discussed the issues with several institutes and banks, including the central bank of the Maldives. More research went into this bill than any other economic bill in the Maldives,” he said.

Speaking at the ceremony, Minister of Tourism Ahmed Adheeb said that the country can ‘reach new heights’ by following the leadership of President Abdulla Yameen Abdul Gayoom.

He highlighted that Maldives has attracted foreign investment over the past two years, and said that the country’s future looks prosperous.

Adheeb also commented on the criticisms put forward by the opposition party, Maldivian Democratic Party (MDP), regarding the SEZ Bill. He said that the 200 amendments proposed to the bill by MDP, were baseless and of no use.

Last night’s function was also attended by President Yameen, First Lady Fathimath Ibrahim, Speaker of Parliament Abdulla Maseeh, cabinet ministers, and Members of Parliament representing Progressive Party of Maldives (PPM) and Maldives Development Alliance (MDA).

The SEZ Bill was passed yesterday by the parliament, with 60 votes in favour, and 15 against.

Speaking to reporters during a press briefing at the airport yesterday, prior to former President Maumoon Abdul Gayoom’s departure to Samoa to attend the Third International Conference on Small Island Developing States, President Yameen said that efforts will begin to facilitate the arrival of the foreign investors who have expressed interest in investing in the Maldives, as soon as the SEZ Bill is ratified.