In his speech, today, at the plenary session of an economic forum, entitled “The Partnership Summit 2010”, organised by the Confederation of Indian Industry, President Mohamed Nasheed has spoken on government’s economic policy and on investment opportunities available in the Maldives.
The President said he introduced “unprecedented market-based reforms” in the Maldives and discussed the measures underway. The economic reforms, he explained, involved three crucial parts including.
- financial prudence and long-term stability
- Radical policy of privatisation and public-private partnerships.
- Cutting red tape and reducing government bureaucracy.
Stressing that the state cannot and should not play the role of business, President Nasheed said “for three decades, the dynamism of the Maldivian economy was hindered, by the suffocating regulations of a meddlesome state”.
He said his goal was to rebalance the relationship between the public and the private sectors, adding that a “government’s rightful place” was to correct market failure, and also to provide a safety net for the most vulnerable people in society.
The President also discussed investment opportunities in the areas, including housing, education, health, fisheries and agriculture.
“Many Indian companies have already profited from the Maldives,” he told at the Summit attended by industry people from around the world.
After the opening plenary of the Summit, President Nasheed attended a press conference and briefed the media on investment and climate policies of the government.