MOU of protecting Maldivian businesses and investors has been signed

Maldives Police Service and the Ministry of Economic Development have signed an MOU regarding the protection of Maldivian businesses and the foreign investors in the country.

The Commissioner of Police, Hussain Waheed signed the MOU representing the Police and the Economic Minister Mohamed Saeed represented the Ministry.

Speaking at the ceremony held at Shaheed Hussain Adam Building, the Economic Minster said that the MOU signed today would allow the police to assist the ministry in the inspections regarding illegal business in the country.

“A lot of effort is being put by the ministry with a lot of laws and a lot of regulations to inspect businesses.” Minister said.

The Economic Minister said that the business inspections have increased with the business regulation law. The Minister noted that a lot of illegal businesses run by foreigners have been shut down.

The Commissioner of the Police also spoke at the ceremony saying that the goal of the police would be to assist and aid the ministry in their inspection of illegal businesses.

“With an MOU like this, we are hoping to bring good changes to the Maldivian business sector. Support, training and technical support would be provided to the ministry’s people working to guarantee the safety of the businesses.” Commissioner Waheed said.

About 11,000 business companies have been registered ant the Economic Ministry with over 3000 businesses as private companies, 200 businesses as partnerships and 20 businesses as cooperative societies.