Sri Lankan investments sought by Maldives

Oct 06, 2011 (LBO) – The Maldives is seeking more investments from Sri Lanka, especially in construction, transport and energy, and a credit line offered to Sri Lankan exporters is to be broadened beyond fruits and vegetables. The Maldivian administration’s key economic strategy is to engage the private sector and enable the diversification of the economy for sustainable development, said Mahmood Razee, Minister of Economic Development in the Maldives.

He was in Colombo to attend the fourth Annual General Meeting of the Sri Lanka- Maldives Bilateral Business Council of the Ceylon Chamber of Commerce recently.

Razee said the Maldive islands were looking beyond the traditional sectors of tourism and fisheries, and at other potential areas such as construction, transportation and renewable energy.

Maldivian high commissioner in Sri Lanka Hussain Shihab the present government of the Maldives is stressing the importance of commercial diplomacy and bringing in foreign investments into the country.

“This has given abundant opportunities to Sri Lankan businessmen to make investments in the Maldives,” he was quoted as saying in a statement.

Relations between the two countries were close with many Maldivian