Maldives ‘open for Japanese investment’

Foreign minister Dunya Maumoon said today that the Maldives is open for Japanese investments, as the east Asian country donated MVR 64 million (US $4m) of “disaster reduction equipment”.

“The Maldives is open for Japanese investment. Be it airport development, or tourist resort development, or transportation sector development, the Japanese investors will have the full guarantee that their investment will be fully protected,” Dunya said.

She was speaking at a ceremony at the Ministry of Foreign Affairs today for the signing of the Japanese aid deal.

The foreign ministry had not specified what the equipment consisted of at the time of going to press.

The government said in June last year it was in talks with the Japan Bank to secure a loan of US $200m to help redevelop the country’s main international airport, but this month it said it was looking to the Saudis for the cash.

In her remarks, Dunya expressed appreciation from the Maldives to Japan for nearly four decades of support, which have included providing the sea wall around Malé and constructing primary schools.