Shainee: Strengthening Maldivian economy vital for stability of Indian Ocean

Minister of Fisheries and Agriculture of Maldives, Dr. Mohamed Shainee has commented that strengthening the Maldivian economy was imperative in order to maintain stability within Indian Ocean and South Asian region.

Dr. Shainee made the comment during the conference on geopolitics and geo-economics – Raisina Dialogue – being held in India.

Speaking during the conference, Dr. Shainee said that Indian investment had played a huge role in the economic progress made by Maldives over the last 30 years.

Dr. Shainee said that Maldivian government was currently undertaking some major infrastructure development project, some of which needed finance and other resources in order to complete.

He said the projects had the potential to play an imperative role in maintaining stability of Indian Ocean region.

Dr. Shainee said a strong and stable economy in Maldives and other small nations was of benefit to the entire Indian Ocean region.

“An economically weak Maldives will lack the strength politically as well. This is a threat to safety and security of the Indian Ocean,” said Dr. Shainee.

He said that Maldives can only progress to a new stage of development with the help of foreign investors.

“Investors come to Maldives from neighboring countries as well as far away countries. They come because of the huge investment return, the little time it takes on investment recovery, and the high investment guarantee,” said Dr. Shainee.

He also said that any issues that may arise will be solved as per law, under the supervision of international parties.

Dr. Shainee said that ties between the countries in the region played a key role in promoting common interests shared by all countries in the region.