Investment in private sector to be worth US$1 billion over three years-President Nasheed

President Mohamed Nasheed has said in his weekly radio address on the Voice of Maldives last Friday that private sector investments in the Maldives will be worth an estimated US$1 billion over the next three years.

President Nasheed said this would be in addition to official development assistance, and discussed details of the investment areas and upcoming projects.

Some of the projects are the upgrade of Malé International Airport and Hanimandhoo airport, expanding Gan airport’s runway, establishing a waste management facility in Thilafushi, Apollo Hospitals taking over Indira Gandhi Memorial Hospital (IGMH), the proposed national ferry system, and a project to build 10,000 housing units.

President Nasheed also spoke of the recent Donor’s Conference, saying it “was very successful.” He added that it showed the trust the international community has in the current government.

The president said the US$ 313 million in pledges that was announced at the Donor Conference will go toward developmental assistance and budget support.

President Nasheed added that the sports sector will be restructured, and there will be a national sports institute to oversee development of sports infrastructure.