Sri Lanka investments sought by Maldives

Jan 25, 2012 (LBO) – The Maldives is seeking more investments from Sri Lanka and plans to set up an investment agency similar to Sri Lanka’s Board of Investment, officials said. “A lot of Sri Lankan products are coming to the Maldivian market – new brands are being introduced.”

Niyaz said Sri Lankan investments in tourism in the Maldives were increasing.

“Tourism in not the only viable industry in the Maldives. There are several others. If we can meet Sri Lankan businessmen to set up joint ventures in the Maldives and Sri Lanka, it would be a good way to bring both countries together.”

Niyaz, the newly appointed Maldivian deputy high commissioner, said his role is to improve commercial diplomacy with Sri Lanka. Maldivian Deputy High Commissioner Hussain Niyaz said the foreign policy of the new government elected in 2008 is to attract as many foreign direct investments to the Maldives as possible.

“In order to do this the government is ready to provide facilities to attract and facilitate new investments,” he told a business forum organised by the National Chamber of Commerce of Sri Lanka (NCCSL).

Ahmed Abdul Gaffoor, president of the Maldivian National C