Economic Minister Fayyaz Ismail has clarified that the recent amendments to the Foreign Direct Investment Policy of the Maldives do not allow foreign companies to operate air traffic control services in the Maldives.
The amendments published yesterday to the FDI policy stated that 100 percent foreign-owned companies can now invest in the Maldives to operate air transport services in the Maldives with an investment, excluding air freight services. Such foreign companies will be allowed to operate ground services, air traffic control work as well as airport operations including terminal facility services in the Maldives.
Minister Fayyaz today tweeted that, “Recent amendment to Foreign Direct Investment does not allow operation of air traffic by a private investor whether foreign or local,”
“In any airport in the Maldives, this will be conducted by the State. To remove any misunderstanding will be changing the wording to reflect clearly,”
Recent amendment to Foreign Direct Investment does not allow operation of air traffic by a private investor whether foreign or local. In any airport in the Maldives this will be conducted by the State. To remove any misunderstanding will be changing the wording to reflect clearly
— Fayyaz Ismail (@faya_i) June 14, 2021
The Minister specified that the wordings of the amendment will be changed.
The amendments came amidst speculation that the northern Hanimaadhoo International Airport is to be awarded to a foreign company for operations. The airport is being developed under the funding of the Exim Bank of India. The government has now also confirmed that the Hanimaadhoo Airport will not be awarded to a foreign company to operate.
