‘Sun Travel’ Shiyam claims investors have “lost confidence” in the Maldives

MP for Meedhoo constituency Ahmed ‘Sun Travel’ Shiyam told the People’s Majlis that both local and foreign investors had lost confidence in the Maldives, local media reported.

“This is the result of the persons assigned with the people’s posts and money betraying them and acting without any policies or system,” Haveeru quoted Shiyam.

Shiyam argued that increasing embezzlement and corruption  was a major contributor to what he sees as the country’s impending bankruptcy.

“In order to ensure the progress of the country, everyone needs to be sincere and honorable. The members of the Parliament and the government must adore the people,” he said.

Investor confidence has been much discussed as the government continues to oppose the GMR deal to develop the country’s international airport – the country’s largest.

However, the Maldives National Chamber of Commerce and Industries (MNCCI) last week claimed that the legal wrangling between the government and India-based developer would not harm confidence in the country’s “challenging” investment climate.

Haveeru also reported comments made today by former President Maumoon Abdul Gayoom  regarding the GMR deal.

Detailing his recent meeting in India with GMR head G M Rao, Gayoom said that he had told Rao that the deal had been signed under dubious circumstances.

“I told him that we have no issues with India or any Indian company. We have issues with the actions of the previous government,” Gayoom is reported to have said.

“The agreement was signed with GMR in violation of the constitution and the laws. The Parliament was not even informed. The Maldivian people are also not aware of the details of the agreement. So these are the issues we have,” he said.